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Will You Add? - Conducting Risk Assessment
If there is one area of call centre activity which has been hit harder than other sectors of the call centre industry then it must be B2C telemarketing. In 2004, CM-Insight’s Mike Havard predicted the death of the cold call within 5 years unless companies changed their actions. Despite the doom and gloom over the last few years, we are now starting to see the resurgence of outbound. However, it has now transformed and is smaller and cleverer. Prospects are targeted more accurately, the agents speaking to them are more professional and the message being delivered is far more in tune with the individual needs. We examine the chequered history of B2C outbound and look at what it holds for the future.Of course, some of the UK’s more professional companies did change their course but some went even further down the road to self-destructio
The nature of a risk/threat should be determined, regardless of the type. Factors to consider should include (but not limited to):
1) Geographic Location.
2) Weather Patterns for the Area and Surrounding Areas.
3) Internal Hazards (HVAC, Facility Security, Access, etc).
4) Proximity to Local Response/Support Units.
5) External Hazards (neighboring Highways, Plants, etc).
Potential exposures may be classified as:
1) Natural Threats.
2) Man-made (human) Threats.
3) Environmental Threats.
Other steps in conducting Risk Assessment are to review following points:
1) Probability of Occurrence.
2) Vulnerability to Risk.
3) Potential Impact.
4) Preventative Measures in Place.
5) Insurance Coverage.
6) Past Experiences.
ANALYZING THE RESULTS
Once the Risk Assessment
As Albert Einstein said:-"The significant problems we face today, cannot be solved at the same level of thinking we were at when we created them."Problems don't go away unless you get to the cause - the source of them. Repeatedly 'fixing' issues that arise takes a physical and mental toll on you and your team. The key is to solve problems once and for all and move on.Picture this scenario:-Luke runs a small engineering factory, making electronic tagging systems for retailers. His business has really taken off in the last two years and his people are really stretched now to keep up with demand. Recently his people have been complaining more; there have been a number of unpleasant incidents where tempers have become frayed. Two la
To be successful, any risk assessment has to concentrate on the local identifiable issues relating to the business. Before exploring other concerns, concentrate on the most realistic risks and threats that currently exist in the business environment. This can include factors such as:
1) The Nature of the Business.
2) Surrounding Area of Facility.
3) The Construction of the Facility.
4) Common Weather Patterns.
5) Technology Dependencies.
OBJECTIVES OF THE RISK ASSESSMENT
During the Risk Assessment, risks to the business will be identified and evaluated. The vulnerability of the business to these risks will be rated. You will also: 1) Identify what prevention practices are being used. 2) Define and implement safeguards to mitigate risks. 3) Conclude the overall risk to the business. 4) Build a case for strategy selections.
Once the assessment is completed, a business can make decisions regarding methods of mitigating risks. By completing a Risk Assessment and Business Impact Analysis, a business can implement the best strategies for Contingency Planning.
RISK ASSESSMENT PROCESS
Despite the prevention practices utilized, potential hazards that are existent and could result in a loss to the business need to be considered. Even though the exact nature of these exposures and their consequences are tough to determine, it is valuable to conduct a risk assessment of all threats that can logically happen.
WHAT SHOULD BE INCLUDED?
All locations and facilities should be included in the risk assessment. Surrounding businesses, local fire, police, and community utilities should also be included in the assessment. Any vendor provided service that is provided to the business should also be evaluated.
STEPS TO FOLLOW
The following steps are necessary for completing a Risk Assessment.
1) Identify Threats/ Risk and Vulnerabilities.
2) Analyze risks and determine vulnerability.
3) Identify mitigation and recovery options.
4) Evaluate and Choose Options.
There are additional steps that need to take place during this process. Some of those actions are:
1) Review Internal Plans and Policies.
2) Meet with Outside Groups.
3) Identify Assets.
4) Conduct an Insurance Review.
ASSESSING YOUR RISK
The process of identifying risks/threats, probability of occurrence, the vulnerability to each risk/threat and the potential impact that could be caused, is necessary to prepare preventative measures and create recovery strategies. Risk identification also provides a number of other advantages including:
1) Exposes previously overlooked vulnerabilities that need to be addressed by plans and procedures.
2) Identifies where preventative measures are lacking or need reevaluated.
3) Can point out the importance of contingency planning to get staff and management on board.
4) Will assist in documenting interdependencies between departments and increase communication between internal groups. Can also point out single points of failures between critical departments.
For the ease of this process, categories of risk should be created to focus the thought process. In the Risk Assessment Survey, the main categories include, Natural Risks, Man-Made (Human) Risks, and Environmental Risks. These are certainly not requirements, and should not be considered to be constraining.
The nature of a risk/threat should be determined, regardless of the type. Factors to consider should include (but not limited to):
1) Geographic Location.
2) Weather Patterns for the Area and Surrounding Areas.
3) Internal Hazards (HVAC, Facility Security, Access, etc).
4) Proximity to Local Response/Support Units.
5) External Hazards (neighboring Highways, Plants, etc).
Potential exposures may be classified as:
1) Natural Threats.
2) Man-made (human) Threats.
3) Environmental Threats.
Other steps in conducting Risk Assessment are to review following points:
1) Probability of Occurrence.
2) Vulnerability to Risk.
3) Potential Impact.
4) Preventative Measures in Place.
5) Insurance Coverage.
6) Past Experiences.
ANALYZING THE RESULTS
Once the Risk Assessment
Consumer Behavior complements and consummates the application of “Marketing Concept” in every organization as a way of achieving overall corporate objectives. Consumers’ experience has been widened by their exposure to competing products, rapid changes in technology, which result in regular availability of innovative products. The information-age consumers are ardent information processors that undergo a lot of internal and external considerations before and after purchasing a product or service. They set high expectations for any product or service to meet their present and future needs.Marketers’ success now anchors on the extent to which they understand and respond perfectly to the behavior of consumers. Marketers are compelled to search for new ideas, theories and principles from behavioral sciences like anthropology, sociology, psych
4) Common Weather Patterns.
5) Technology Dependencies.
OBJECTIVES OF THE RISK ASSESSMENT
During the Risk Assessment, risks to the business will be identified and evaluated. The vulnerability of the business to these risks will be rated. You will also: 1) Identify what prevention practices are being used. 2) Define and implement safeguards to mitigate risks. 3) Conclude the overall risk to the business. 4) Build a case for strategy selections.
Once the assessment is completed, a business can make decisions regarding methods of mitigating risks. By completing a Risk Assessment and Business Impact Analysis, a business can implement the best strategies for Contingency Planning.
RISK ASSESSMENT PROCESS
Despite the prevention practices utilized, potential hazards that are existent and could result in a loss to the business need to be considered. Even though the exact nature of these exposures and their consequences are tough to determine, it is valuable to conduct a risk assessment of all threats that can logically happen.
WHAT SHOULD BE INCLUDED?
All locations and facilities should be included in the risk assessment. Surrounding businesses, local fire, police, and community utilities should also be included in the assessment. Any vendor provided service that is provided to the business should also be evaluated.
STEPS TO FOLLOW
The following steps are necessary for completing a Risk Assessment.
1) Identify Threats/ Risk and Vulnerabilities.
2) Analyze risks and determine vulnerability.
3) Identify mitigation and recovery options.
4) Evaluate and Choose Options.
There are additional steps that need to take place during this process. Some of those actions are:
1) Review Internal Plans and Policies.
2) Meet with Outside Groups.
3) Identify Assets.
4) Conduct an Insurance Review.
ASSESSING YOUR RISK
The process of identifying risks/threats, probability of occurrence, the vulnerability to each risk/threat and the potential impact that could be caused, is necessary to prepare preventative measures and create recovery strategies. Risk identification also provides a number of other advantages including:
1) Exposes previously overlooked vulnerabilities that need to be addressed by plans and procedures.
2) Identifies where preventative measures are lacking or need reevaluated.
3) Can point out the importance of contingency planning to get staff and management on board.
4) Will assist in documenting interdependencies between departments and increase communication between internal groups. Can also point out single points of failures between critical departments.
For the ease of this process, categories of risk should be created to focus the thought process. In the Risk Assessment Survey, the main categories include, Natural Risks, Man-Made (Human) Risks, and Environmental Risks. These are certainly not requirements, and should not be considered to be constraining.
The nature of a risk/threat should be determined, regardless of the type. Factors to consider should include (but not limited to):
1) Geographic Location.
2) Weather Patterns for the Area and Surrounding Areas.
3) Internal Hazards (HVAC, Facility Security, Access, etc).
4) Proximity to Local Response/Support Units.
5) External Hazards (neighboring Highways, Plants, etc).
Potential exposures may be classified as:
1) Natural Threats.
2) Man-made (human) Threats.
3) Environmental Threats.
Other steps in conducting Risk Assessment are to review following points:
1) Probability of Occurrence.
2) Vulnerability to Risk.
3) Potential Impact.
4) Preventative Measures in Place.
5) Insurance Coverage.
6) Past Experiences.
ANALYZING THE RESULTS
Once the Risk Assessment
Use Time-based Competition as one of your most powerful strategic weapons! Drive down the time it takes to develop and deliver new products, dramatically reduce inventory and manufacturing time. Slash the cost of quality, and win back market share. This article tells you how top-flight companies are doing it.Substantial market share has been lost over years to foreign competitors. No industry is immune. The pressure is on to be the nothing less than the best. Reducing cycle times in your company is a new way of tackling the problem. It's a new world-class manufacturing strategy that is making companies fiercely competitive. Companies who are doing it are cutting out 50 percent of the time to develop and introduce new products. Some have already reduced factory throughput time by 98 percent.Time based competition is
WHAT SHOULD BE INCLUDED?
All locations and facilities should be included in the risk assessment. Surrounding businesses, local fire, police, and community utilities should also be included in the assessment. Any vendor provided service that is provided to the business should also be evaluated.
STEPS TO FOLLOW
The following steps are necessary for completing a Risk Assessment.
1) Identify Threats/ Risk and Vulnerabilities.
2) Analyze risks and determine vulnerability.
3) Identify mitigation and recovery options.
4) Evaluate and Choose Options.
There are additional steps that need to take place during this process. Some of those actions are:
1) Review Internal Plans and Policies.
2) Meet with Outside Groups.
3) Identify Assets.
4) Conduct an Insurance Review.
ASSESSING YOUR RISK
The process of identifying risks/threats, probability of occurrence, the vulnerability to each risk/threat and the potential impact that could be caused, is necessary to prepare preventative measures and create recovery strategies. Risk identification also provides a number of other advantages including:
1) Exposes previously overlooked vulnerabilities that need to be addressed by plans and procedures.
2) Identifies where preventative measures are lacking or need reevaluated.
3) Can point out the importance of contingency planning to get staff and management on board.
4) Will assist in documenting interdependencies between departments and increase communication between internal groups. Can also point out single points of failures between critical departments.
For the ease of this process, categories of risk should be created to focus the thought process. In the Risk Assessment Survey, the main categories include, Natural Risks, Man-Made (Human) Risks, and Environmental Risks. These are certainly not requirements, and should not be considered to be constraining.
The nature of a risk/threat should be determined, regardless of the type. Factors to consider should include (but not limited to):
1) Geographic Location.
2) Weather Patterns for the Area and Surrounding Areas.
3) Internal Hazards (HVAC, Facility Security, Access, etc).
4) Proximity to Local Response/Support Units.
5) External Hazards (neighboring Highways, Plants, etc).
Potential exposures may be classified as:
1) Natural Threats.
2) Man-made (human) Threats.
3) Environmental Threats.
Other steps in conducting Risk Assessment are to review following points:
1) Probability of Occurrence.
2) Vulnerability to Risk.
3) Potential Impact.
4) Preventative Measures in Place.
5) Insurance Coverage.
6) Past Experiences.
ANALYZING THE RESULTS
Once the Risk Assessment
To answer this question properly you must realise that starting your own business can be a time consuming and stressful job, especially in the early years. You need to balance your own needs with that of your families. If you analyse all the facts in a methodical manner you will be able to truly answer the question.Listed below are a few points to consider if you decide to take the plunge and buy a business.Individual qualities – Successful people are fully aware of their own strengths and weaknesses, by understanding this they are able to identify what tasks are suited to them and which ones are not. A good place to start is for you to analyse your own strengths and weaknesses. Here are some individual qualities that are a pre-requisite for sound management; inspirational leadership, sound work ethic good perception and compassion
1) Exposes previously overlooked vulnerabilities that need to be addressed by plans and procedures.
2) Identifies where preventative measures are lacking or need reevaluated.
3) Can point out the importance of contingency planning to get staff and management on board.
4) Will assist in documenting interdependencies between departments and increase communication between internal groups. Can also point out single points of failures between critical departments.
For the ease of this process, categories of risk should be created to focus the thought process. In the Risk Assessment Survey, the main categories include, Natural Risks, Man-Made (Human) Risks, and Environmental Risks. These are certainly not requirements, and should not be considered to be constraining.
The nature of a risk/threat should be determined, regardless of the type. Factors to consider should include (but not limited to):
1) Geographic Location.
2) Weather Patterns for the Area and Surrounding Areas.
3) Internal Hazards (HVAC, Facility Security, Access, etc).
4) Proximity to Local Response/Support Units.
5) External Hazards (neighboring Highways, Plants, etc).
Potential exposures may be classified as:
1) Natural Threats.
2) Man-made (human) Threats.
3) Environmental Threats.
Other steps in conducting Risk Assessment are to review following points:
1) Probability of Occurrence.
2) Vulnerability to Risk.
3) Potential Impact.
4) Preventative Measures in Place.
5) Insurance Coverage.
6) Past Experiences.
ANALYZING THE RESULTS
Once the Risk Assessment
Everywhere you look today, you see them. The logos are plastered all over the entryways into most business shops you see on the roads, you seem the at the bottom of every order form page online or in the paper, and even the olympics and the NFL!Visa and Mastercard logos are everywhere you want, or don't want them to be!With the country today spending so much money on credit, with the "buy now, pay later" mentality, accepting credit cards will truly increase your business simply by accepting these forms of payments.Debit cards are standard becoming the way younger adults pay. Cash is becoming also as obsolete as the 8 track!National Translink Corporation has conducted a survey all over 10,000 merchants that have been accepting credit cards for over 3 years. What the survey found, was that an astonishing 68% of the b
The nature of a risk/threat should be determined, regardless of the type. Factors to consider should include (but not limited to):
1) Geographic Location.
2) Weather Patterns for the Area and Surrounding Areas.
3) Internal Hazards (HVAC, Facility Security, Access, etc).
4) Proximity to Local Response/Support Units.
5) External Hazards (neighboring Highways, Plants, etc).
Potential exposures may be classified as:
1) Natural Threats.
2) Man-made (human) Threats.
3) Environmental Threats.
Other steps in conducting Risk Assessment are to review following points:
1) Probability of Occurrence.
2) Vulnerability to Risk.
3) Potential Impact.
4) Preventative Measures in Place.
5) Insurance Coverage.
6) Past Experiences.
ANALYZING THE RESULTS
Once the Risk Assessment Survey and face to face interviews have been conducted, the next step is to analyze and present the results so that Executive Management can get most use of the data. Analysis can be a time-consuming and tedious process, especially with an enormous amount of data, but it is critical to the RA process.
The analysis will be the foundation for planning recommendations to senior management. The recovery strategies that need to be developed should be based on the findings of the Risk Assessment Survey and interviews, as well as the Business Impact Analysis findings.
FINAL REPORT & PRESENTATION
Begin your final report with an executive overview of the Risk Assessment Project. This will explain the objectives of the project, what was in scope, and what approach was used. Then provide a summary review of potential hazards.
CREATION OF EXECUTIVE REPORT
The findings from the Risk Assessment will form the basis for the final report. The purpose is to provide senior management with enough information to make them comfortable in endorsing the recommending strategies, actions, budgets or to accept the level of risk by not implementing recovery strategies. The report should include graphs, which visually demonstrate the findings. Do not overuse the graphs. Too many graphs and reports can make reviewing the information confusing. Provide graphs for overall information on the departments, financial impact, etc.
The final report should include:
1) Previous Disruption History.
2) Risks & Vulnerabilities.
3) Preventative Measures.
4) Presenting the Results.
5) Next Steps.
The Risk Assessment process is an essential phase of Continuity Planning. The possibility of a disaster impacting a business is unpredictable. The business should implement a comprehensive Continuity Planning Program and develop recovery plans that encompass all critical operations and functions of the business.
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