Identifying the risks in your organisation
No organisation can be started without a risk being present. The initial launching can be the biggest risk involved. Equally the organisation doesn’t have to always end up being successful, but you shouldn’t start without the mind set of being able to overcome any of these risks. To conquer the risks a plan should be wrote down and evaluated so the stress can seem more manageable. It would be near to possible to predict every problem that was going to occur in the organisation but having a rough estimation of the larger risk will benefit the organisation starting up.
Risks can come in a variety of forms:
External incidents are the most difficult to predict within the organisation but the possibility of these occurring is the smallest, for example floods, fires, or pandemics. Even with these being the least likely to happen, if they do occur, they will cause the most disastrous damage. So great, that you need contingency plans to deal with them. Identifying the risk should be done with the organisation's target market taken into consideration/industry analysis, these risks can possibly affect the whole organisation so think of how your competitors might react to gain an advantage over you in recovery.
Internal incidents range by the type of organisation being run, for example loss of supply, malfunctions with machinery, product contamination etc. Using scenario planning to find these risks can make these problems easy to deal with. Based on the threats your organisation faces, you can explore scenarios about the results before they materialise, and find a possibility that makes life easier to move on from it.
Pre-launch delays – Are any of the pre-launch key activities likely to cause delays?
contenders– how are they doing?
contenders advantage – is the organisation on a down fall?
Market – is any changes about to take place?
Customer value proposition – Is it being delivered?
Product / service quality – is it up to the organisation’s standards?
Customer service – Are they satisfied?
Cash flow – Is it on an upturn?
Sales – are the targets being met?
Profits – is the organisation earning money?
Operations – Are key activities under control?
output – Is it meeting targets?
Administration – Are processes and procedures working well?
Brand identity – Is it being established?
IP – Is it secure?
Technology – is It being used in the most efficient way?
Investment – is more needed? Why?
Stocks / inventory – Are they adequate or too much?
Merchandising – Is it under control?
Debtors / receivable – Are they under control?
Interest rates – will the changes affect you?
Exchange rates – will the changes affect you?