TM
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Risk is defined as any situation that can reduce business valuation relative to goals, or prevent the maximization of valuation. Failure to recognize risk in all of its forms and act upon those findings, can be devastating to a business. It can reduce asset value, and waste time and effort associated with capitalization, growth and profit margins, and the stability of the employment base.
Risk is a necessary part of business, but not something that can be managed simply by purchasing a lot of insurance. A much broader view of risk and effective risk discovery + resolutions can lead to increased profitability and business valuation. Effective de-risking requires a disciplined process of analysis, a proper presentation of solutions, implementation of those solutions, and monitoring and measuring the effectiveness of the solutions implementation. The ultimate goal is to eliminate, mitigate, or transfer (“EMT”) non-productive risk.
The De-risking Process
RiskPoint Zone provides assistance in maximizing the value of a business through a very disciplined de-risking process. The key steps in this process are:
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RiskScan: Is the first step in identifying small business risks. A RiskScan is completed using our eRiskScan cloud based application.
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RiskPoint Analysis: Conduct a detailed RiskPoint Analysis which will identify and rate the level of the risks, set objectives, and create reports. This is completed using our eRiskPoints cloud based application.
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Monitor, Measure and Adjust: The Analysis is reviewed regularly to ensure the objectives are being met.
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EMT Solutions Implementation: Identify solutions for "RiskPoints" that require Elimination, Mitigation or Transfer ("EMT") for reduction of risk.