Sometimes companies analyze threats and opportunities, but do so too infrequently, failing to keep up with changes.
Any change requires an urgent response. For example, if amendments are made to the law, the company must immediately adjust its activities, and not in a week or a month, when a session on threats is planned. This is why the current standards in the field of risk management devote one section to change management, assessment of threats and opportunities.
But we should not move away from practicality, since in the absence of significant events there is no point in resorting to additional actions. As soon as changes are outlined, they need to be responded to. And here it does not matter who or what is the source of the data: consumers, team members, government agencies, etc.
Formal approach
There is no point in 99 acres database reviewing and analyzing threats simply because this process is necessary. In some companies, you can see huge documents that are nothing more than formal replies. Usually, a quality manager works on such papers, whose task is to satisfy the auditor's requirements. The auditor will accept this document, but this will not allow the business to see real risks.
Risk management errors
The key principle of risk management is to find and use emerging opportunities, and this goal remains unachieved. There may be two completely unrelated threat management systems in enterprises: one exists for business needs, the other for the management system. Such an approach is unacceptable.
Lack of a systematic approach
Unsystematic work within the framework of risk management will not bring any benefit. We are talking about a situation when such activities are carried out only occasionally, while the manager himself does not know who, what and when should do.
It is not enough to say that the company is now starting to manage threats and opportunities. In order for this process to yield results, it is necessary to assign those responsible for risk management, select methods, and periodically train team members.
It is equally important to build processes so that all decisions are made in accordance with the information obtained through threat assessment. Actions cannot be based on inspiration or the employee’s subjective assessment of the situation – specialists must understand how to respond to potential risks.
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