Risk Mitigation

Business entails risk. Of course, where there is risk, there is potential gain. Profitable businesses identify and manage risk to their advantage. Identifying risk and developing an appropriate risk mitigation response isn’t always self-evident. In fact, it requires an experienced eye to see the risks out there, understand and assess them and, finally, create the best strategy for reducing risk to levels that a business is willing and capable of tolerating. Evaluating and minimizing enterprise risk is essential if a company wishes to attain its operational objectives, maximize profit and reach operational excellence. When a company is under the stress of change, a comprehensive risk management strategy is crucial to the very survival of that entity. Strategic Pathfinders Group can help a business assess and manage enterprise risk quickly and effectively.

Assessment

Assessing risk begins with understanding one’s self. Every business, just like people, has varying levels of risk tolerance. SPG will document your extant level of risk tolerance as we perform an enterprise-wide examination of all pertinent risks to the business. We will also discuss the expected or targeted level of risk that the business would like to achieve. Our assessment will detail all of the potential risks while documenting gaps, missed opportunities and high-risk situations that may not have been already evident.

Strategy Development

Based on the goals and objectives of the business and our assessment, we will craft an appropriate program that will address all salient aspects of risk management necessary to arrive at the desired level of risk tolerance. Our strategy encompasses both the process and human resource aspects inherent within any good risk mitigation program.

Mitigation and Management

Our team will work with management and staff on implementing this plan. Appropriate metrics and reporting structures will be implemented. Staff will also receive training appropriate for their role in managing risk on behalf of the business.

If you would like to discuss your current risk position and how SPG might help you reduce that risk to manageable levels, call us at 440.667-6749 or contact us by email.