Businesses have risks, no matter how careful and well planned you are there is always risks on every decision that you make. Risks never stops and it’s not just a single risk but multiple ones that can potentially hurt your business if you don’t play your cards right.
That is why in a business, it’s important that in order to lessen the risks there are risks assessments involved with the most experienced and reliable people to undertake such tasks. Some business can take a hit, but for some that relies on such risks like a new product or a line of business in order to stay afloat for another decade. You may take a hit but not too much that it will bring down the entire project and the business altogether.
Support: Luckily, even if business can’t avoid the risks, there are things that these companies can do in order to support and make sure that their projects are properly supported and will contribute to the company’s success. Why a support is important? Let’s take this example in a customer perspective as part of risks assessment.
The scenario: You recently released a new mobile device, you got the ads, you got the people, the stores and even the network providers that will carry the device You had great reviews and the launch of the product is a success, but… after a week you received a bunch of problems. The batteries explodes, and later you knew that the repair and replacement was inadequate. Your product might be good but after weeks of use, it had potential dangers.
The problem: Where the problem lies? Your research and development, your production, you’re after sales and warranty. This explodes in the news and social media, it’s a talk of the town, many filed a lawsuit for the damages and you would think that this is the end for your company.
If you don’t have a contingency plan this will surely be the end, but if you are like Samsung that quickly picked up the pieces and got right back in the game with their redemption phone the Galaxy S8 and S8+ then you still have a chance to turn it all around, learn from your mistakes and become the superstar the following year.
IBANZ can help you, if you got them before this happened you know that all is not under the water because they got you when everything falls apart. Give them a visit or a ring and see for yourself why more companies and even your competition hired them, click here for more details.