GLAC Consulting near Miami, Florida suggesting implementing risk management solutions for your company. These new trends in business risk involve business security systems as well as identifying news trends that are putting your business at risk. Managing risk is more important now than ever and staying ahead of the game guarantees you and your company’s safety and liability concerns. Here are the top three trends happening right now in the corporate world that you need to be aware of:
Today we live in a transparent community. With social media being the forefront for business advertising, anything we say can and will be used against us. Words can get twisted or misunderstood and it can affect the overall run of your business. This luminous community can have a devastating hit on your company reputation. Scandals such as the United Airlines incident will put a black mark on your company’s reputation indefinitely. The $1 billion drop in market value also indicates that shareholders care tremendously at how their investments are perceived.
Competing airlines as well as customers are keeping notes of this incident to see how they can either do better or avoid this type of scandal altogether. A risk management solution to maintaining the integrity of your company is to instill strict Standard Operating Procedures for all employees and strictly monitor social media posts and ads. Scheduling social media posts and ads ahead of time will give room for the appropriate staff to proofread and edit anything that could potentially be damaging to the company reputation.
Regulatory Fines and Risk Management Solutions
These regulatory fines are climbing by the minute. The 2018 GRC market report states, “With the uncertain regulatory landscape, managing compliance is becoming a challenge for most risk managers.”
When the time came for new reformation in healthcare solutions at the deteriorating Obamacare model, States were quick to jump at the opportunity to establish their own healthcare mandates—a bold move to say the least. It was a clear effort to look busy to the all-watching eyes of our communities. However, these types of moves are made in haste and are primal at risking the overall run of a business. To avoid such downfalls, implementing risk management solutions is key. Our experts at GLAC Consulting can advise you on what to do when uncertainty comes knocking on your business door.
A disruptive business models are one of the tops ways’ businesses are experiencing substantial risks. One company that has seen a lot of negative attention from this is the fast food chain, Chipotle. Their customers have fallen ill due to the contamination of their food sources. One time was enough to put them in a negative spotlight, but somehow, they were able to make the same exact mistake twice. They were quick to point fingers at employees (a terrible practice in general) and issue apologies, but the damages were already done. Even if employee hygiene were to blame, a simple risk management solution for this would have been to simply integrate business security systems. A better, more reliable option would have been to assess the risk of their locally grown food sources.
The world is sitting on a social platform that is being watching through the eyes. Behind the privacy of their computer screens, people are more vocal than ever about expressing their distaste toward company innovations. These bold moves are quick to tarnish the reputation of companies. Whether we like it or not, we have a duty more now than ever to protect the integrity of our businesses through and through. If you need management solutions or business security systems, contact GLAC near Miami, Florida.