Risk Strategy Tutorial
This tutorial will provide you with more details about how to design and embed a risk strategy across your organisation.
In this fourth video, I provide a detailed approach to establishing a risk strategy for your organisation.
A risk strategy is a comprehensive plan that guides your organisation in identifying and understanding, assessing, and responding to risks, encompassing both threats and opportunities. It involves a systematic and ongoing process that is integrated into the broader strategic management framework across your business’s operations and strategic management.
🔹 Identification of potential threats and opportunities
🔹 Proactive Risk Management
🔹 Resource Allocation and Optimisation
🔹 Decision-Making Support
Creating and putting a risk strategy into action involves several important steps, including setting clear goals to provide direction, defining your risk appetite to ensure alignment with your business objectives, and fostering a culture of risk awareness across all levels of your organisation.