Bad things can happen to good companies. What’s worse is when they happen when you are the least prepared for it. While these unfortunate happenings may not lie in your company’s fault (take for example occurrences like political turmoil and natural disasters), they may be aggravated by risk factors that you might never have considered. No matter the nature of your business, one thing is quite certain: everything can – and may – go wrong!
So how do you plan for a business when nothing is for certain? What can you do to reduce your vulnerabilities and weaknesses? How can you plan and minimise the impact of the most unexpected?
List all of your worst-case scenarios.
Consider the biggest risks and challenges that could disrupt your business. You will need to consider hardware failures or your key employees leaving abruptly without prior notice, just to name a few.
Think about how these “wild cards” will affect your business.
Create a list of all the people and things that would be affected by your worst-case scenarios. You will find that like an intricate spider web, every area of your business is interconnected. By mapping out what could possibly go wrong and who/what it will affect, you will be able to see the areas that require strengthening or where you can provide more support.
Once you have identified the risks relating to your business, you will need to analyse the likelihood of these challenges coming true, the consequences they entail and then proceed to map out plans and solutions to manage or minimise them.
Join us at our upcoming Business Protection Seminar and learn about the four main components of protecting your business assets and talents. Our Principal Consultant Mr Stephen Chew will be sharing his know-how and expertise on this essential part of your business.
The Business Protection Seminar is happening:
Date: 6 September 2016, Tuesday
Venue: The China Club
168 Robinson Rd, #52-01 Capital Tower, Singapore 068912
UPDATE: Changed of Venue. Please refer to the email confirmation that we have sent to you for the new venue details.
Time: 6:30pm – 8:15pm
Admission is FREE! Register to reserve your seat now.
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