Strategic Risk Management Company - MiSAFE Solutions

1. Strategic Risk Management Company -------------- Defining Sustainable Governance and Accountability MiSAFE Solutions http://misafesolutions.com.au/

2. Understanding Strategic Risk Management Strategic Risk Management is an extensive process of analysing, controlling and limiting the uncertainties that could inhibit the ability of an organisation to accomplish its strategic goal and objectives of leveraging the value of investors and owners. It is also referred to as the primary component for establishing Enterprise Risk Management. In simple words, strategic risks is a menace to any business strategy, and failing to resolve the strategic risks is synonymous to falling business. Like for an instance, you are all set to launch a new product in the market oblivious to the active market trends but the demand for that product suddenly drops down in the market, you are wrecked. No matter how proficient you are in managing the operational or enterprise risks of your organisation, but if you fail to identify strategic risks, be ready to face the financial bane of your business. MiSAFE Solutions http://misafesolutions.com.au/

3. 5 Defining Principle’s Of Strategic Risk Management • It is aimed to leverage the credibility of investors and shareholders • It is a foundation component of building enterprise risk management system of an organisation. • Being a part of ERM, it largely gets influenced by the board committee, directors and employees of the company. • It has an objective of viewing the scope of risk depending on the external or internal factors influencing the business growth. • This is a continuous and steady process which is and should be included in the development, management and execution of risk management system. As discussed earlier, strategic risk management is a process influencing the strategy and objectives of an organisation based on extensive assessment and management. It is based on five main principles namely: MiSAFE Solutions http://misafesolutions.com.au/

4. Steps Involved In Strategic Risk Management Check the development of the organisation’s ERM policies in accordance with the prevailing or forthcoming strategic risks. Develop plans aimed to improve the level of risk management processes. Administer strategic risk assessment to identify and prioritise the strategic risks of the organisation. It includes evaluation of both external and internal risks. Meticulously examine the process of setting strategies; this includes categorisation of risk on first hand. It is done to check if there is any need of updating the strategy and objectives of assessment. MiSAFE Solutions http://misafesolutions.com.au/

5. Reviewing is done to know if the strategic risk management process is executed finely. The process is expanded to include major aspects related to strategic risks. The risk monitoring and reviewing are embedded into the core management processes of business assessment and performance. Create a continuous process aimed to update the evaluation of strategic risks on a periodic basis.Also, the strategic risk assessment process must be periodically updated along with other business management processes. MiSAFE Solutions http://misafesolutions.com.au/

6. Glimpse To The Process Of Conducting Strategic Risk Assessment 1. First of all, thoroughly know about the objectives and business strategies of the organisation targeted. This will help in categorising the risk on the parameter of priority and occasional basis. 2. Secondly, collect the information and views on the previously managed strategic risks and the ones predicted to occur in the near future. This can be easily done by going through the interviews, surveys, records and informational documents of the organisation. MiSAFE Solutions http://misafesolutions.com.au/

7. 3.Collecting all the data, create an introductory plan to mitigate and process the strategic risk assessment. 4. Finalise the introductory risk assessment plan after validation and finalising it on the basis of aspects used to collect the data. 5. After finalising the plan, create the action plan for promoting the strategic risk management plan within the organisation 6.Spread and communicate the strategic action plan with the associated members of the organisation. 7.Finally, execute the develop strategic risk management plan to know its significance and importance in the business development. MiSAFE Solutions http://misafesolutions.com.au/

8. Summing Up!!! A lot of companies are getting into adopting the strategic risk management policy to safeguard their workplace in order to establish a sustainable business in the market. A large section of companies has agreed to know that the risk management programs are becoming highly beneficial for the development and implementation of business strategies as per their objectives and motive of establishments. MiSAFE Solutions http://misafesolutions.com.au/

9. Contact Information MiSAFE Solutions Pty. Ltd. ABN: 12 602 392 343 Palmwoods, Qld Australia 4555 M: 0400 977 769 EMail: contact@misafesolutions.com.au Website: http://misafesolutions.com.au/ MiSAFE Solutions http://misafesolutions.com.au/