Have you heard of PEST analysis? It involves researching four external influences that affect businesses on a macro level: political, economic, social, and technological factors. In PEST analysis, an analyst thoroughly investigates these four factors in relation to the business or industry. But PEST analysis can also be a tool to identify current and future risks. These … [Read more...] about This is How PEST Analysis Helps Mitigate Business Risks
business risk analysis
3 Occasions You Should Always Use Risk Analysis
How much are you affected when an advertisement worth thousands of dollars, doesn’t reach the right audience? Do you have a plan to correct the issue, or will you be left scrambling to recoup as many losses as you can? Risk analysis helps identify risks before they happen, so you can effectively respond with the right plan of action. Using risk analysis for projects is … [Read more...] about 3 Occasions You Should Always Use Risk Analysis
Use Business Risk Analysis to Prevent a Crisis Before it Hits
Wishful thinking isn’t enough to prevent a crisis from torpedoing your business. Stringing together a plan made of guesswork also won’t reduce the painful results. When your business is in jeopardy, you need concrete plans to manage the damage. And while these plans will work during the crisis, they also help to prevent the crisis from ever happening. We make a mistake by … [Read more...] about Use Business Risk Analysis to Prevent a Crisis Before it Hits