{"id":4910,"date":"2021-04-23T12:00:00","date_gmt":"2021-04-23T11:00:00","guid":{"rendered":"https:\/\/www.conferencecall.co.uk\/blog\/?p=4910"},"modified":"2021-06-15T10:49:13","modified_gmt":"2021-06-15T09:49:13","slug":"three-step-business-risk-management-plan","status":"publish","type":"post","link":"https:\/\/www.conferencecall.co.uk\/blog\/three-step-business-risk-management-plan\/","title":{"rendered":"3-Step Business Risk Management Plan"},"content":{"rendered":"<p>Every business needs a risk management plan to identify any issues that could have a negative impact on trading, and put procedures in place to minimise the effect on your systems and processes.<\/p>\n<p>The last 12 months alone have served as a hard lesson in expecting the unexpected.<\/p>\n<p>If you don\u2019t have a risk management strategy, even the most straightforward problem could prove catastrophic to your business. Never mind the impact of a global pandemic.<\/p>\n<p>Here is a three-step plan to make sure your business is prepared for the worst.<\/p>\n<h2>Three steps to successful business risk management<\/h2>\n<h3><\/h3>\n<h3>1. Identify the risks<\/h3>\n<p>Each business has different risks, and it\u2019s vital you identify the ones that are most likely to impact your particular business. Here are some of the most common risks, consider how each of the following would affect your business:<\/p>\n<ul>\n<li><strong>Sudden closure<\/strong> \u2013 What if your business had to close suddenly due to fire, <a href=\"https:\/\/www.conferencecall.co.uk\/blog\/make-flood-insurance-claim\/\">flood<\/a> or any other unexpected event? How would you and your employees cope financially?<\/li>\n<li><strong>Theft, loss or damage to equipment or<\/strong> <strong>stock<\/strong> \u2013 How quickly would you be able to get back to work if your business suffered theft, loss or damage to vital equipment or stock?<\/li>\n<li><strong>Staff problems <\/strong>\u2013 Would your business be able to cope if staff suddenly became unavailable?<\/li>\n<li><strong>Infrastructure problems <\/strong>\u2013 Would your business be impacted by building or road closures that could affect footfall?<\/li>\n<li><strong>Operational risk <\/strong>\u2013 How effectively could you cope with operational problems? This could be anything from a power out to a loss of internet connectivity to server problems.<\/li>\n<li><strong>Reputational risk <\/strong>\u2013 How badly would negative customer reviews affect your business? Do you have any plans or processes in place to limit the damage?<\/li>\n<\/ul>\n<h3>2. Carry out a full risk assessment<\/h3>\n<p>Once you\u2019ve identified the main risks to your business, you need to assess which ones are most likely to occur and how much of an impact they\u2019ll have on both the immediate day-to-day running of things as well as the long-term effects.<\/p>\n<h3>3. Evaluate and review the risks<\/h3>\n<p>Once you\u2019ve worked out the major issues, you then need to evaluate how you would respond to each and whether you need to take out any additional insurance to cover against them.<\/p>\n<p>Part of this response plan should also contain pre-emptive measures to lessen the likelihood of each risk, alongside a contingency plan in case the worst should ever happen.<\/p>\n<p>With your plan in place, you should finally review the risks to make sure each has been covered so nothing can catch you by surprise.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-5319\" src=\"https:\/\/www.conferencecall.co.uk\/blog\/wp-content\/uploads\/2019\/03\/risk-management-infographic-1-638.jpg\" alt=\"\" width=\"638\" height=\"990\" \/><\/p>\n<h2>How a conference call can help<\/h2>\n<p>Having a reliable conference call provider in place should form part of your risk management plan \u2013 if staff can\u2019t make it into work, or your business premises is of bounds for any reason, you can reschedule important meetings via conference call, so business can carry on as normal.<\/p>\n<p>It makes sense for whole business to use the same provider, so there\u2019s no confusion about access.<\/p>\n<p><a href=\"https:\/\/www.conferencecall.co.uk\/conference-call\">ConferenceCall.co.uk<\/a> is the UK\u2019s simplest teleconference operator, with more international dialling codes than any other and capacity for up to 100 participants per call \u2013 big enough to meet the needs of any business, but small enough to care.<\/p>\n<p><a href=\"https:\/\/www.conferencecall.co.uk\/conference-call\"><img decoding=\"async\" class=\"alignnone wp-image-1777 size-full\" src=\"https:\/\/www.conferencecall.co.uk\/blog\/wp-content\/uploads\/2015\/05\/conference-call-banner.jpg\" sizes=\"(max-width: 600px) 100vw, 600px\" srcset=\"https:\/\/www.conferencecall.co.uk\/blog\/wp-content\/uploads\/2015\/05\/conference-call-banner.jpg 600w, https:\/\/www.conferencecall.co.uk\/blog\/wp-content\/uploads\/2015\/05\/conference-call-banner-300x59.jpg 300w\" alt=\"\" width=\"600\" height=\"118\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Every business needs a risk management plan to identify any issues that could have a negative impact on trading, and put procedures in place to minimise the effect on your&#8230;<\/p>\n<div class=\"more-link-wrapper\"><a class=\"more-link\" href=\"https:\/\/www.conferencecall.co.uk\/blog\/three-step-business-risk-management-plan\/\">Read More<span class=\"screen-reader-text\">3-Step Business Risk Management Plan<\/span><\/a><\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7,32],"tags":[29],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3-Step Business Risk Management Plan - ConferenceCall.co.uk blog<\/title>\n<meta name=\"description\" content=\"Each business needs a risk management plan to identify issues that could have a negative impact on trading. This 3-step plan will prepare you for the worst.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.conferencecall.co.uk\/blog\/three-step-business-risk-management-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3-Step Business Risk Management Plan - ConferenceCall.co.uk blog\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.conferencecall.co.uk\/blog\/three-step-business-risk-management-plan\/\" \/>\n<meta property=\"og:site_name\" content=\"ConferenceCall.co.uk blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/pages\/Conference-Call-UK\/178511498997826\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-23T11:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-15T09:49:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.conferencecall.co.uk\/blog\/wp-content\/uploads\/2014\/02\/flood-uk.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"534\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Les Roberts\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@LesRobertsMedia\" \/>\n<meta name=\"twitter:site\" content=\"@ConfCallUK\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Les Roberts\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.conferencecall.co.uk\/blog\/three-step-business-risk-management-plan\/\",\"url\":\"https:\/\/www.conferencecall.co.uk\/blog\/three-step-business-risk-management-plan\/\",\"name\":\"3-Step Business Risk Management Plan - ConferenceCall.co.uk blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.conferencecall.co.uk\/blog\/#website\"},\"datePublished\":\"2021-04-23T11:00:00+00:00\",\"dateModified\":\"2021-06-15T09:49:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.conferencecall.co.uk\/blog\/#\/schema\/person\/fd51b09e17d75360ba18197c2c1c535b\"},\"description\":\"Each business needs a risk management plan to identify issues that could have a negative impact on trading. 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