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Before you start risk management, it is important to identify the risks the company is exposed to.
Establish a catalogue of risks or a"risk register"
A risk can be defined as an effect of uncertainty on the objective. It is a different outcome from what you expected and can address, create or result in opportunities and threats.
Identifying as many risks as possible often leads to not being able to manage it all properly.
SIMILAR ARTICLES & IDEAS:
It aims to define your critical uncertainties and develop plausible scenarios in order to discuss the impacts and the responses to give for each one of them. If you are aware of what could h...
The measures to stop the spread of the virus are well-known by now: staying home in lockdown, working from home as a default option, schools switching from physical classrooms to e-learning models.
Not every country has been able to make these choices fast, due to a combination of hesitation, inaction, and paralysis. Before any decision is made, the first thing to do is determine what needs to be done and at what pace and scale.
As the current health crisis steamrolls into an economic crisis unparalleled for the last 100 years, the decline in economic activity is already at par with the great depression.
This crisis of global proportions requires resilience, both for near-term issues like liquidity and cash flow, as well as long-term issues like uncertainty, personal financial stress and recovering from multiple challenges that were already present and are now further complicated due to the pandemic.
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While body language cues can offer clues to deceptions, it is often not good enough. More accurate signals are:
The passive process of observing a potential liar's body language and facial expressions to spot lies is limited.
Adopt a more active approach by asking the individual to relate their story in reverse order rather than chronological order.
People often rely on stereotypical behaviors that are often associated with lying such as fidgeting or shifty eyes. But these signs are simply old wives' tales.
Your first gut reactions might be more accurate than any conscious lie detection you might attempt.