Facing uncertainties in businesses is inevitable!

Facing uncertainties in businesses is inevitable, causing many of companies to operate on the edge!

Risks affecting organizations can have consequences in terms of economic performance and professional reputation, as well as environmental, safety and societal outcomes. Therefore, managing risk effectively helps organizations to perform well in an environment full of uncertainty.

The term “Risk” can be defined as the probability or threat of damage which may come from both internal and external sources, therefore; many definitions of risk management are known but can be summed up with: the process of identification, evaluation, and prioritization of risks in order to managing them before affecting the business.

So; any organization always needs to recognize and describe what risks surrounds its business, and then determine the likelihood and severity of each to evaluate and rank them appropriately and to be able to plan the most effective responses, followed by monitoring.

A number of worldwide standards have been developed to provide organizations with methods to implement risk management systematically and effectively, and one of those are which is designed to upgrade the identification of opportunities and threats, level-up the probability of consummating objectives, and effectively utilize resources for risk treatment – ISO 31000.

ISO 31000:2018, Risk management – Guidelines, provides principles, framework and a process for managing risk. It can be used by any organization regardless of its size, activity or sector.

AAC MENA/ Aswar Akka Consultancy covers both practical and theoretical courses related to risk management including ISO 31000 Lead Risk Manager Course. Also, AAC has the ability to provide comprehensive consultation to all types of organizations in order to define, analyze, prioritize, and treat internal and external risks.

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