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As we enter the new year, it’s easy to feel there’s never been a time of greater uncertainty, change and volatility in the business world.
From the wars in Israel and Ukraine to the number of elections happening all over the world in 2024, it can feel like a rocky road ahead. This year is set to have the largest number of political elections in history.
Governments play a significant role in shaping the risk management landscape for businesses. For starters, they create and enforce regulations that dictate how businesses should operate. These regulations often include specific risk management requirements and standards.
With an earthquake hitting Japan already in January, it can also feel like there’s volatility in terms of natural events.
Risk management is crucial for identifying, assessing and mitigating potential risks that could affect your organisation’s objectives, projects or operations.
It involves several key steps, with the first stage identifying the risks that could impact your particular business. It’s vital to examine any internal and external factors that might lead to problems or uncertainties in the future.
To do this, New World Norm takes the time to develop a thorough understanding of your business, its goals, and its unique challenges.
The good news is this process is much easier than in the past.
Advancements in technology have significantly impacted risk management. You can now benefit from a range of tools like data analytics, artificial intelligence, and machine learning to help in identifying patterns and predicting potential risks.
A risk assessment looks at the likelihood of each risk, and what type of impact it could have.
This can help you prioritise which risks require immediate attention and resources.
Our consultants can both deliver risk assessments and mitigate risks.
We can work with you to develop strategies that reduce, eliminate, or manage the identified risks. This might involve creating contingency plans, implementing security measures, diversifying investments or taking out insurance.
We can also continuously assess and review the effectiveness of risk management strategies. Risks can evolve, so it’s crucial to adapt and update approaches accordingly.
Enjoy first class communication with our experienced consultants.
We can ensure that stakeholders and relevant parties are informed about potential risks and the strategies in place to address them. Clear communication fosters understanding and facilitates a coordinated response to risks.
Effective risk management is vital for businesses to anticipate and address challenges, prevent potential losses, and make informed decisions to achieve their goals.
Using our risk management consultancy services can offer several advantages to your business in 2024.
We have specialised knowledge and experience in risk management across various industries. Our global team works with companies of all sizes, from small start-ups to large corporations.
We’re committed to bringing a depth of understanding and insights into potential risks that a business might overlook.
Get an objective perspective on your business.
An external consultancy like New World Norm can provide an unbiased and objective view of risks. They aren’t as influenced by internal politics or biases, allowing for a more accurate risk assessment.
Our consultants can tailor their approaches to suit specific business needs. They can develop customised risk management strategies that align with the company’s objectives.
Save money in the long run.
While it might seem like an additional expense, engaging a consultancy can often save money in the long run. Their expertise can help in preventing costly mistakes or mitigating risks before they escalate.
We provide access to the latest tools and technology.
New World Norm can provide your business with access to advanced tools, technologies and methodologies for risk analysis and management. You can benefit from the kind of support that isn’t available in-house.
Keeping up with regulations and compliance requirements is crucial. Our consultants stay updated with these standards and help ensure the company remains compliant, reducing legal risks.
In times of crisis or unexpected events, our experienced consultants can offer guidance and support, helping the company navigate through turbulent situations.
One of the leading risk management consultancies, we can bring specialised skills, diverse perspectives and resources that can significantly enhance your company’s ability to identify, assess, and mitigate risks effectively.
Want to improve the strategic thinking of your team in 2024? Our services also include risk management training.
Ideal for people, teams and organisations, our course covers risk management in a dynamic and interactive learning environment.
We extend our training and development for Senior Leadership and rising talent who often require a 1:1 mentoring program. This is ideal for upskilling their commercial strategic thinking alongside delivering business performance to maximise each part of the business.
Options for risk management training include:
If you’re looking for risk management consultancy services in the UK, simply contact us for more information.
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