"A company may be losing its market edge for not taking enough risks."
Risk, which can have an impact on all areas of personal or corporate activities, can be defined as uncertainty surrounding the outcome of a future event. Because risk is inherent to conducting business, success depends on managing and controlling it rather than eliminating it. To reduce or contain possible losses or unpleasant outcomes, firms should strive to use all appropriate tools and approaches.
A company can be affected by various types of risk, including strategic risk, business risk, reputation risk, business interruption risk, and directorsí liability risk.
QCO helps businesses create and develop their own philosophy of risk at their corporate level. This process involves the balancing of many forces, such as corporate goals, appetite, authority, economic profit, available resources, controls, and so on.
QCO help firms determine their risk appetite and tolerance and also develop risk management strategies, risk culture, policies and procedures, key risk indicators, and monitoring/controlling/reporting mechanisms.
Risk has always been present in business, and in most cases, the more risks you take, the more profit you can potentially achieve. However, taking uncalculated risks may damage the whole business if not evaluated and managed carefully.
QCO has the market knowledge and the expertise to identify risks associated with business operations in Saudi Arabia and throughout the Middle East region. We provide our clients with risk analyses and detailed risk management plans (including step-by-step impact assessment on businesses) in areas such as market risk, risk associated with legalization, financial risks, and operational risks.