In order to harness new opportunities, progressive leaders have always been willing to take a risk. In the global economy this concept can be successful, but how does a company thoroughly assess risk? There seem to be threats in so many places and at different degrees.
There are corporate-wide risks from computer hackers practicing espionage to international terrorism. There are site-wide risks such as bacterial outbreaks or poor employee vetting processes. And finally, risks to individuals like cancelled flights or MIA ground transportation. How can one company manage so many unknown dangers and stay on the path towards success?
It begins with an international security consultant who relentlessly asks “what if” and does the math. A corporate risk assessment consulting expert can conduct a thorough audit and find risks wherever they may be hiding. Each country has its own set of business norms. Some are “on the books” practices that include taxes, business law and import/export details. Then there are also issues to evaluate that are “off the books.” These can include cultural practices and unspoken security risks which can sidetrack overseas business if ignored.
While Your Company is Focused on Overseas Opportunities, IMG will Focus on Risk
It’s important when evaluating global risk and opportunity to invest the right amount of hours on both. Yet the time spent auditing every possible outcome to global commerce can add up. Using a corporate risk assessment expert to manage the risk audit gives executives more time to evaluate opportunities. For instance, countries like Brazil, experiencing a renaissance in manufacturing can appear to be the new emerging economy. Global companies will want to be the first to “get in the door” and establish themselves. Sometimes, this desire to be the first can cause the company brass to ignore telltale signs of risk such as possible political instability or the Zika virus.
A corporate risk assessment expert will take the time to search deeper and review all the possible “what ifs.” Some issues, have obvious problems to address. Evaluating a country infrastructure can alert a business to unexpected losses. Poorly managed railways can affect the timeline for moving products. Crumbling roads and older airports will cause delays in business travel. A lack of properly trained medical staff and dilapidated hospitals can create an unforeseen emergency if a visiting VIP becomes ill or hurt. IMG corporate risk assessment experts will add up details for each scenario and offer a smart security strategy. If you are looking for a corporate risk assessment expert to solve the equation for your overseas business, contact IMG for a complimentary consultation.
Photo credit: Leonid Mamchenkov via Foter.com / CC BY
