Understanding and mitigating emerging and inherent risks are fundamental to your firm’s long-term viability, and a critical component of your strategic analysis. Risk and mitigation are always in a state of flux. A practice of defining and verifying assumptions, and identifying and framing risk in both probability and impact risk is the first step. The second involves aligning objectives and tactics, accordingly.
Risks from emergent events include those from:
- Stakeholders: Customers/Clients; Employees; Governments; Creditors; Lenders; Suppliers; Donors; Fundraisers; Activists, and Media
- Legal, and
- Environmental factors.
Helpful Hint : Once identified, risks that require mitigation can also be added to your other respective matrixes as appropriate, such as the Michael Porter’s Five Forces, the PESTLE, and the SWOT/SCOT matrix.