business risk

A Practical Guide to Business Risk

The Institute of Directors (IoD) has launched a new Director’s Guide, offering practical advice and insight for company top brass as how to assess and manage business risk. Based upon findings in the report Roads to Ruin, a study of major risk events, by Cass Business School, the key lesson to take away is that business risks should be identified and managed by the company directors. A competent board, the report argues, is then able to manage difficulties before they get out of control. Product liability and employer’s liability are common concerns for all SMEs but different sized businesses apparently face different risks; Smaller businesses are particularly vulnerable to cashflow and credit risk with fraud, crime and vandalism becoming more recent issues to watch out for. The larg... »