Higher Learning Can Mean Lower Risk: Certifications That Can Change Your Business

OlufisayoOctober 17, 201701,138 views

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Without risk management an organization cannot clearly define its goals. Without taking risks into consideration they will not be able to adjust when/if the risks occur. Risk management is the ability to forecast and evaluate financial risks while implementing procedures to avoid or minimize their impact.

Risk Management Certifications

Managing business risk is an essential leadership skill and receiving training has never been easier. Risk management courses increase your overall value as a manager and give you the opportunity to network with other professionals to nurture lasting business relationships.

These certifications teach advanced techniques to prosper in a rapidly evolving environment. They examine relationships between risk and business performance while tackling specific risk-drivers impacting your organization. The best part of these certifications is the opportunity to learn from the expertise and insights of highly qualified, dynamic faculty of risk management practitioners from leading organizations.

How Can These Certifications Lower Risk?

Risk management began after World War II in an effort to protect individuals and companies. It has evolved overtime to include financial risks for companies. The history of risk management and the critique of it is varied. While it is impossible to forecast every financial risk, we are getting better and better at learning to avoid and minimize their impact on businesses.

These certifications will prepare you to better identify types of risk exposure within your company, measure those potential risks, estimate the impact on future earnings, and propose a hedge to the fall out. By knowing the many “ifs” around the corner your business will be better equipped to handle the ones that show up.

Preparation is the key to success.

“Expect the best, plan for the worst, and prepare to be surprised.” – Denis Waitley

By learning from the past and examples of poor risk management we avoid the mistake of having to relearn history the hard way. We learn from other companies and their mistakes (like Volkswagen’s deception, Knight Capital’s “technology breakdown”, and many others) we are better able to forecast and lower the risks for our own businesses.

Higher learning lowers the risk to business because knowledge is power. Knowing where others have succeeded and stumbled better prepares those in risk management to foresee potential challenges to their own business.

Often when we talk about viewing the future we are divided as optimist and pessimist. Those preparing for future problems are wrongly labeled as pessimist. We are told the world can only be seen in two ways, as a cup half empty or half full. We’ve forgotten that the cup can be refilled. Risk management is the pitcher waiting to refill the glass when necessary.

Change Your Mindset And Your Business

By preparing for the worst you will be further along the path to success. Hiccups will come, they do for everyone. Having a plan in place will keep your company from falling off course. Knowing that hard times will happen, the market will falter, and the culture may shift prepares your business for what is ahead. Risk management sets you up for success because you will have a plan in place before the panic ever has a chance to settle in.

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