Objectives
Upon completion of the workshop, participants will be able to:
- Establish a common understanding of risk management concepts and terminology as part of a common language aligned to industry practice.
- Understand the importance of risk management for SMEs and its impact on business resilience and growth.
- Identify and categorize common risks faced by SMEs, including financial, operational, strategic, and compliance risks.
- Learn effective risk assessment techniques to prioritize risks based on severity and likelihood.
- Develop risk mitigation strategies and action plans to address identified risks.
- Integrate risk management principles into the organization's culture and decision-making processes.
- Establish a robust risk monitoring and review system for continuous improvement.
- Implement governance and regulatory compliance measures to mitigate legal risks.
- Enhance financial risk management strategies to safeguard the SME's financial stability.
- Demonstrate an understanding of the inter-relationships of key risks and common controls.