Threats and Opportunities

How often do you review threats or risks and opportunities in your business?

This is where my experience in technical risk management seamlessly transfers to business risk management.

Your T&O register is your early warning system. It allows you to brainstorm things that may, or may not happen, that could impact your business, positively or negatively.

While it can be the starting point in disaster recovery and contingency planning, it is also where you can think outside the box and leverage little chinks in the market for opportunities your competitors haven't seen yet.

One important issue which is the focus of all clients at the moment, is sustainability.

While a lot of our customers are moving away from traditional hydrocarbons, this has opened the door to a whole new market of clean, green and renewable energy sectors.

Are you ready to respond?
Do you have the technical expertise?
Does your workforce have the right skill set?

At a lower level, another one of my clients are one of the first in their sector to publicise their sustainability policy and shout about their very own chemical bottle return scheme. This sets them apart within their market and their customers are now able to demonstrate to their own interested parties that they have reviewed their supply chain and are making positive improvements through their suppliers.

Look at your T&O-if you haven't reviewed since COVID you are missing out.

Opportunity doesn't always knock!