Risk management should be embedded within the culture of the organization so that everyone is focused on managing and optimizing risk.
Risk management should be embedded within the culture of the organization so that every...
The recent times have brought an enormous change in the way we do business. Markets world over are awakening to the need of strategic and tactical planning to reach business success. Ignorance of risk in planning and implementation could make an organization more vulnerable and susceptible to risk and cause severe impact on profitability.
Day to day business operations have evolved to register more complexity, as organisations are engaged in multiple business relationships with vendors, shareholders and investor. Each of these bears a significant impact on the organization's decision making process. It is therefore vital to the functioning of the business that, while expectations are being met with, these relationships are guarded by prudent set controls. Risk management must transcend from a single department function, to integrate with the very fabric of an organisation’s functioning.
Building a Conducive Environment for Business Growth
As business opportunities increase, risk exposure becomes inevitable. Risk management provides a guided approach in pursuing business objectives with addressing and mitigating opportunity risks.
Risk, if managed effectively, allows organisations more freedom in planning for future growth. It provides a broader outlook into future opportunities while keeping a firm focus on the possible risks at hand. A robust risk management framework equips an organisation with an added edge to effectively manage shareholder expectation, gain investor confidence, capitalize on growth opportunities at the same time maintain a sharp focus on risk.
Identify your risk
KPMG in the UAE works with senior management across organisations to help them better profile their risk exposures and develop robust control systems and measures. Our experienced risk consulting specialists offer timely and practical advice in mitigating risk and enhancing opportunity.
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