Complexity and dynamics features the business environment today. There are a number of economic challenges that it is considered to meet companies, such as the observation of markets, its customers or evaluation of analysis. These early warning systems put a company in a position to evaluate risks and opportunities and to adapt to its strategy over and over again
Complexity and dynamics features the business environment today. There are a number of economic challenges that it is considered to meet companies, such as the observation of markets, its customers or evaluation of analysis. These early warning systems enable a company to explore the situation, risks and opportunities from and to again and again to adjust his strategy.
Many companies often focus on internal risks such as supply chain management or Cash Flow and return on sales. It is left unberücksichtig, that there are also internal risks (such as Facility management or human resource) and external risks such as weather data, commodity price developments, political crises or market developments. To protect themselves against all these crises better, a good risk management system is important and should represent the individual structure of each company.
A good risk management system should help, the significant risks, which is the company’s success, or even the company threaten its existence, to detect and to take the appropriate measures. Goal of good risk management is not there but, to eliminate all possible risks, because otherwise the chances of success may be missed. Let risks remain manageable and derive on the risk preference of the company.
The measurement of this risk preference can be done according to the following methodology:
All data for a good risk management system are available, either within the company itself (different analysis pots, for example) Controlling data, HR data, supply chain management data or compliance data) or from other data sources (google weather data, or through use of software for unstructured data from the www.). First, the solution of the VAS linked these data to the dashboard of the dashboard – the RiskManagementDashboard.
Many of the common standards such as BSI standard 25999, NIST, ISO 22301, BSI standard 100-4 are taken into account in the VAS RiskManagementSuite.
For this purpose the VAS has designed a business algorithm, which allows the individual companies in cooperation with the VAS to develop its individual risk profile.