How to turn threats into opportunities?
The world and society are facing unprecedented changes. As the history of many companies shows, many of the old certainties are gone. And change comes with a risk. The art of adapting and using change to your advantage is crucial today.
The changes affect all areas: rapid technological development, changes in business models, downward pressure on prices, the costs of climate change, an unstable international environment, tariff barriers and more. Each of these challenges requires a timely and adequate response. A functioning risk management system can keep threats in check and turn challenges into opportunities. Risk management is thus the key to the company's success.
In addition, the implementation of an Enterprise Risk Management (ERM) system is no longer just a matter of management decisions. Stakeholders, including investors, key partners, regulators and the public, expect management to prudently identify, assess and respond to risks.
Therefore, senior management appreciates that the corporate risk management system allows them to:
- Achieve clearly defined, important goals
- use resources efficiently and effectively
- report transparent and reliable operational and financial data
- comply with legal and other standards
BDO helps companies and organizations design and implement a practical and cost-effective business risk management system. We draw on our experience from both the private and public sectors. Our teams around the world have helped many organizations implement and improve strategic, operational, financial and compliance management processes.
The basis of any risk management solution is an understanding of the client's internal and external environment and the industry in which the client operates. We also believe that risk and opportunity are two sides of the same coin. Only an experienced risk manager can know when unnecessary checks are suffocating the business and when it is appropriate to take healthy risks.
Our services include:
- help with defining the so-called risk appetite and risk management strategies
- setting up and implementing risk management processes
- risk identification, assessment and monitoring
- assistance in choosing an adequate risk response
- setting up control mechanisms to reduce risks
- audit of the risk management system or selected risks
- training courses