Business Risk Assessment and Mitigation Checklist

The "Business Risk Assessment and Mitigation Checklist" is a valuable tool designed to help your organization identify potential risks and challenges that could impact your business and develop strategies to mitigate them. This checklist provides a systematic approach to assess and prioritize risks, implement preventive measures, and establish contingency plans, enabling your business to proactively manage uncertainties and safeguard its operations.

• (1) Financial risks and challenges

  -Unpredictable changes in revenue -Increased costs -Decreased demand for products or services -Competition

• (2) Lack of planning

  One of the potential risks of business is lack of planning. This can lead to problems such as not having enough inventory to meet customer demand, not having the right mix of products or services, or not having the necessary financial resources in place.

• (3) Operational risks and challenges

  -Supply chain disruptions -IT/cybersecurity breaches -Natural disasters -Employee turnover

• (4) Poor management

  Another potential risk of business is poor management. This can lead to problems such as miscommunication among team members, Poor decision-making, or a lack of accountability.