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Risk Assessment

It can be used as a guide to locate hazards in your business and help to direct the implementation of appropriate measures to minimize risk to staff and clients.

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Risk Assessment

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  1. Risk Assessment Risk Assessment

  2. Interestingly, Interestingly, one one of of the the reports reports by by The The World World Bank Bank on on risk risk assessment assessment highlights highlights the the need need for for businesses businesses to to adopt adopt risk risk assessments assessments that that are are robust robust and and involve involve the the identification identification of of risk risk factors factors.. The The big big challenge challenge is, is, however, however, in in implementing implementing these these assessments assessments and and then then turning turning them them into into a a strategic strategic plan plan that that can can be be communicated communicated to to all all stakeholders stakeholders.. Achieving Achieving a a sustainable sustainable business business is is not not just just about about understanding understanding risks risks but but identifying identifying which which risks risks need need to to be be managed managed and and how how they they will will impact impact what what you you do do.. For For example, example, if if your your business business is is in in the the oil oil and and gas gas industry, industry, this this could could include include assessing assessing how how changing changing fossil fossil fuel fuel prices prices affect affect your your operations operations.. 2

  3. It It might might also also mean mean understanding understanding how how a a new new competitor competitor entering entering the the market market could could impact impact your your profitability profitability or or where where this this new new competitor competitor may may have have the the edge edge over over you you in in terms terms of of product product quality quality or or customer customer experience experience.. Business Business sustainability sustainability requires requires effective effective risk risk assessment assessment that that identifies identifies risks risks and and then then outlines outlines strategies strategies for for mitigating mitigating them them before before they they become become problems problems.. 3

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  5. THANK YOU THANK YOU 5

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