The pandemic has not yet been completely overcome, and another emerging risk has captured world attention, such as the war that is being carried out in Ukraine. From one day to the next, this situation affected companies, commodities rose, trade sanctions were imposed, companies that traded with Russia or Ukraine saw their operations interrupted, and companies that suddenly had to leave those markets. This new risk is generating a series of impacts that it is not yet possible to measure.
Therefore, risk management has become an essential activity for companies, and should not be an isolated activity. It is important to have a permanent structure within the organization that is in charge of monitoring them, and not only because of emerging risks that are extraordinary (but have recently become commonplace), but also because of other risks that have been present in companies for a long time. organizations and that must be managed: cybersecurity, technological impact, obsolescence, telecommuting, environmental impact, and many more. These issues have taken on a relevance that makes companies have to design structures for their monitoring, analysis, and management.
To establish an appropriate risk management, a process is defined that consists of the following stages:
- Establish the strategic objectives of the organization,
- Identify the risks that can impact the defined strategic objectives,
- Analyze/Evaluate (the risks identified above),
- Determine the Response to identified risks,
- Develop/implement a risk mitigation plan,
- Monitor the plan and emerging risks,
- Report the results.
Risk management has already become a profession. These are common, and companies require people who are analyzing them, mitigating them, and anticipating them 24 hours a day. These types of tasks require people who have specific knowledge in the matter, either because of their performance in specific areas of an organization, or because they have incorporated knowledge in risk analysis and/or management.
The present is full of risks, many of them known, and others that may be “incubating” at this very moment. That is why companies must have trained professionals to help deal with them. This is a present challenge for any organization that wants to survive.
Professor of the Department of Administration and Human Resources of UADE.
Source: Ambito
