In our region, there is a dictum which says “no risk no gain”, or if we don’t take certain activities, regardless of the risks that accompany them, we can’t count on achieving something in either private or business life. However, the question is what is the risk, and how and in what measure does it affect our lives? The risk is traditionally perceived as a threat, as something that can prevent us from executing our plans. Unlike this traditional concept of risk, new risk assumptions define the risk as an “action of uncertainty on goals” (ISO 31000), or they emphasize the acting of the risk on the organization’s goals. This means that the risk itself is neither positive nor negative, but its consequences per organization may vary from loss and damage to gain. This approach to risk suggests that risk management is a key process that makes achieving organization goals more certain.
But how far are the companies aware of the risks and opportunities to respond to these risks? Does your company have any risk management plan, do you know which risks you have and how much you could lose if you are in a risky situation? What are your work processes, locations, places where the most potential risks actually are? What are the risks that can endanger your business and even survival? How do you handle those risks? Do you have any risk response plans, do your employees know what to do in risky situations? Do you know who is responsible for what? Which activities did you take and when to reduce your risks?
If you have never asked yourself any of these or similar questions, stop and think about it. Is it possible that your company isn’t exposed to any risks and is the “pushing under the carpet” method a way in which you are solving your problems? However, if you do ask yourself similar questions, it means that that you are aware of the necessity of risk management. But do you know how to actually do it? Today it is almost impossible without an adequate software support. And just there HERA enters the scene. Our ERM Venture software provides you with high-quality risk tracking, drafting plans, and allocation of responsibility. Managers, and all those who manage one-on-one risk (on-screen), can see all the key information about the risks in the organization on the control panel: the most important risks (top 5), total risk, risks in different aspects (money, time, quality) potential losses in cash or qualitatively, a risk map, i.e. locations where you are exposed to certain risks and many other information crucial for a proactive and effective risk management.
So, don’t allow the risks to manage you and your company, take control and start to manage the risks, ensuring your company’s long-term stability and survival, and at ERM Venture, look how our software provides you a strong support in all this.