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Strategic Risk Management Company - MiSAFE Solutions

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MiSAFE Solutions is a strategic risk management company in Australia, provides the best process of identifying, assessing and managing the risk in the organization. – PowerPoint PPT presentation

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Title: Strategic Risk Management Company - MiSAFE Solutions


1
Strategic Risk Management Company
-------------- Defining Sustainable Governance
and Accountability
2
Understanding Strategic Risk Management
  • Strategic Risk Management is an extensive
    process of analysing, controlling and limiting
    the uncertainties that could inhibit the ability
    of an organisation to accomplish its strategic
    goal and objectives of leveraging the value of
    investors and owners. It is also referred to as
    the primary component for establishing Enterprise
    Risk Management.
  • In simple words, strategic risks is a menace
    to any business strategy, and failing to resolve
    the strategic risks is synonymous to falling
    business. Like for an instance, you are all set
    to launch a new product in the market oblivious
    to the active market trends but the demand for
    that product suddenly drops down in the market,
    you are wrecked. No matter how proficient you are
    in managing the operational or enterprise risks
    of your organisation, but if you fail to identify
    strategic risks, be ready to face the financial
    bane of your business.

3
5 Defining Principles Of Strategic Risk
Management
As discussed earlier, strategic risk management
is a process influencing the strategy and
objectives of an organisation based on extensive
assessment and management. It is based on five
main principles namely
  • It is aimed to leverage the credibility of
    investors and shareholders
  • It is a foundation component of building
    enterprise risk management system of an
    organisation.
  • Being a part of ERM, it largely gets influenced
    by the board committee, directors and employees
    of the company.
  • It has an objective of viewing the scope of risk
    depending on the external or internal factors
    influencing the business growth.
  • This is a continuous and steady process which is
    and should be included in the development,
    management and execution of risk management
    system.

4
Steps Involved In Strategic Risk Management
  • ? Check the development of the organisations
    ERM policies in accordance with the prevailing or
    forthcoming strategic risks. Develop plans aimed
    to improve the level of risk management
    processes.
  • ? Administer strategic risk assessment to
    identify and prioritise the strategic risks of
    the organisation. It includes evaluation of both
    external and internal risks.
  • ?Meticulously examine the process of setting
    strategies this includes categorisation of risk
    on first hand. It is done to check if there is
    any need of updating the strategy and objectives
    of assessment.

5
  • ? Reviewing is done to know if the strategic
    risk management process is executed finely. The
    process is expanded to include major aspects
    related to strategic risks. The risk monitoring
    and reviewing are embedded into the core
    management processes of business assessment and
    performance.
  • ? Create a continuous process aimed to update
    the evaluation of strategic risks on a periodic
    basis.Also, the strategic risk assessment process
    must be periodically updated along with other
    business management processes.

6
Glimpse To The Process Of Conducting Strategic
Risk Assessment
  • 1. First of all, thoroughly know about the
    objectives and business strategies of the
    organisation targeted. This will help in
    categorising the risk on the parameter of
    priority and occasional basis.
  • 2. Secondly, collect the information and views
    on the previously managed strategic risks and the
    ones predicted to occur in the near future. This
    can be easily done by going through the
    interviews, surveys, records and informational
    documents of the organisation.

7
  • 3. Collecting all the data, create an
    introductory plan to mitigate and process the
    strategic risk assessment.
  • 4. Finalise the introductory risk assessment
    plan after validation and finalising it on the
    basis of aspects used to collect the data.
  • 5. After finalising the plan, create the action
    plan for promoting the strategic risk management
    plan within the organisation
  • 6. Spread and communicate the strategic action
    plan with the associated members of the
    organisation.
  • 7. Finally, execute the develop strategic risk
    management plan to know its significance and
    importance in the business development.

8
Summing Up!!!
  • A lot of companies are getting into
    adopting the strategic risk management policy to
    safeguard their workplace in order to establish a
    sustainable business in the market. A large
    section of companies has agreed to know that the
    risk management programs are becoming highly
    beneficial for the development and implementation
    of business strategies as per their objectives
    and motive of establishments.

9
Contact Information
  • MiSAFE Solutions Pty. Ltd.
  • ABN 12 602 392 343
  • Palmwoods, Qld
  • Australia 4555
  • M 0400 977 769
  • EMail contact_at_misafesolutions.com.au
  • Website http//misafesolutions.com.au/
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