Calculating the level of risk in business is a very difficult matter, it is on these sometimes intuitive calculations that in many situations the overwhelming success or complete failure of the enterprise is built. To reduce the likelihood of error, there is a scheme for calculating the degree of risk in business. And, according to some experts, you can learn to find out its acceptable level.
It is necessary
Information about the financial condition of the enterprise, competitors, the field of activity of the firm and the economy as a whole for the calculation of traditional insurance risks, commodity, financial, environmental, legal, etc
Instructions
Step 1
Define the goals you want to achieve in a risky situation - both major and minor. They must be real and achievable. Even at this stage, a preliminary estimate of the risk level can be made.
Step 2
Rate the significance of your results for any outcome, from best to worst. At the same time, you should not seriously dwell on the riskiness of secondary goals.
Step 3
Try to determine the possibility of your influence on higher-level employees. Improving your personal status can be achieved by expressing your opinion on issues in which you are well versed.
Step 4
Explore the possibility of compromise when resolving your contentious and risky issues. Here it is worth assessing the impact of negative processes on your personal status: loss of job, trust or reputation. Are they worth the pros from the possible benefits.
Step 5
The most important stage is to correctly determine the moment for the beginning of action or inaction. It is important to remember that almost all significant actions in business are always well thought out, and there are few situations where a really immediate response is needed.
Step 6
When assessing the risk of a particular decision, it is imperative to think over your actions in any development of events. Business risk is reduced by having pre-designed contingency plans that you can easily adapt to.
