SMEs - the risk of failing to manage risk This article examines the emergence of risk management as the governance tool of choice for Australia’s regulators, the key challenges that SMEs face in implementing risk management systems effectively, the benefits of embracing technology solutions to manage risk and finally the confronting reality that lies ahead for businesses that fail to manage their risks effectively.
By James Field, Managing Director, CompliSpace Pty Ltd
Published in Keeping Good Companies, July 2008.
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The article focuses on:
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| The failure to effectively implement a risk management program presents an extreme risk for thousands of SMEs
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| | For those that don’t comply there awaits a ‘perfect storm’ of regulators, litigation lawyers, class action lawyers and directors’ and officers’ insurers
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| | With commitment to the risk management process, and by following some basic steps, SMEs can find shelter from the storm whilst adding considerable value to their business
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Click Here to download a copy of the article.
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