Corporate risks in companies are common in the course of work activities, however, it is appropriate to establish a risk management system that ensures the prevention and immediate solution of each of them.
Currently, having an ISO 9001 of 2015 certification is an excellent alternative to establish the quality guidelines defined by its standards; these guarantee the correct organization in the internal structure of the companies.
In this sense, electronic administration brings great benefits for the acceleration of processes and increased performance of human resources, thanks to its system that manages to identify and correct failures in work tasks.
That is why, corporate risks in companies must be taken into account when planning projects in order to prevent and avoid their consequences in case they happen; through a correct management.
In QUALITYWEB 360 you will have the opportunity to count on a quality software that determines the ideal methodology for the internal structure of your company; protecting and avoiding corporate risks will ensure an efficient performance.
The most common Corporate Risks
In order to recognize the importance of the ISO 9001 standard, it is appropriate to know that corporate risks in companies can be avoided by having an adequate Quality Management System.
Corporate risks in companies are known as those probabilities that a project has of falling into conflict, preventing any of the processes or tasks related to the objectives that go according to its fulfillment.
There are different types of corporate risks that can be prevented or not, however, they must be identified, classified and possible solutions must be planned; an electronic administration allows its follow-up and planning in a fast way.
Among the corporate risks we have:
- Business Suspension: It is one of the most important that influences terror among businesses; regardless of whether they are large or small companies, there are possibilities that external factors imply an immediate interruption.
- Cyber Threat: Quality software is increasingly used in companies; important information is usually backed up in the cloud, therefore, a cyber incident means a great corporate risk.
- Market Change: As society advances, markets undergo transformations to meet the new desires of their customers; volatility of such magnitude can affect the organization.
- Brand devaluation: By having an obsolete business structure with old processes, the value of the brand can decline; with an electronic administration, continuous improvement is ensured in your organization.
- Failures in products or services: These refer to possible threats or events that may compromise the quality of the products or services that a company offers. These risks can arise at any stage of the life cycle of a product or service, from design and production to delivery and after-sales support.
Also, some of the corporate risks in companies can be avoided with constant internal ISO 9001 audits by inspecting internal business processes to prevent failures and fix current issues.
How to identify Corporate Risks correctly?
The identification of risks to determine preventive measures gives the opportunity to recognize each one of them in order to classify them and take them into account; the ISO 9001 standard defines the correct methodology for their correction.
Some methods to identify risks are:
- Meetings: Known as workshops, these work very well since they start from the highest positions down to identify the possible risks in each of the areas of the company.
- Surveys: Ideal for companies with a large number of human resources, a survey is sent to workers in different departments to see their point of view on the risks in their area.
- Scenario analysis: The method is implemented to identify those risks with high impact, but with low probability of happening; the assumptions of the solutions allow better measures to be put together.
- Examining processes: The study of internal processes gives the opportunity to identify certain corporate risks for the employees of the various areas.
In this way, corporate risks in companies that are directly related to the organization’s work methodology can be identified in time to develop an effective resolution.
What are the types of risks?
The quality management system to ensure ISO 9001 of 2015 certification determines an organizational model that allows identifying and evaluating each of the company’s corporate risks in order to define the appropriate measures.
First of all, it is important to mention that corporate business risks are divided into those that are internal and those that are external; this will facilitate the identification of risks by classifying them.
The internal ones are related to:
- Services or products offered
- The culture established in the organization
- Internal work methodology
- Human resources
- Technology
The external ones correspond to factors such as:
- Legal regulations
- Suppliers
- Competition and its advantages
- Current state of the market
- Climatic changes
There is a great variety of corporate risks that can affect the stability of the company in a negative way; many of them are not controlled, but even so, it is prudent to take them into account in order to be prepared in case they happen.
In QUALITYWEB 360 you will find the ideal quality software to optimize processes and classify each of the corporate risks related to quality that affect your company; electronic administration is an excellent tool to maximize productivity in your organization.
