Why bother reducing risk?
Serious accidents, IT security breaches, fire, floods, loss of suppliers, extreme weather – any of these can cripple a business, and many never recover. Using standards systematically prepares you in advance so threats like these, and many others you may never have considered, are far less likely to hit you, or can even be turned into opportunities
If an incident does ever occurs, your down time and all the other costs of recovery will be significantly reduced.
But tackling risk can do much more for your business.
By understanding the risks you face and then acting to mitigate them, you become a tougher, more resilient business, able also to respond to and build upon new opportunities. If a problem does arise, or if you and your competitors face industry-wide challenges, you are better equipped to survive the initial problem and then rapidly recover, gaining market share as you do.
And that’s not all. By tackling your risks you’ll enhance your reputation, give your customers greater confidence, win new business and very likely reduce your costs. Above all you’ll understand more accurately how your business works and what its success depends on.