Serious accidents, IT security breaches, fire, floods, loss of suppliers, extreme weather – any of these can cripple businesses. The worst is, many of them never recover. Using standards systematically prepares you in advance so threats like these, and many others you may never have considered, are far less likely to hit you, or can even be turned into opportunities.
If an incident does occur, your down time and all the other costs of recovery will be significantly reduced.
In fact, tackling risk can do much more for your business.
By understanding the risks you face and then acting to mitigate them, you become a tougher, more resilient business, also able to respond to and build upon new opportunities. If a problem does arise, or if you and your competitors face industry-wide challenges, you are better equipped to survive the initial problem and then rapidly recover, gaining market share as you do.
That is not all. By tackling your risks you will enhance your reputation, give your customers greater confidence, win new business, and very likely reduce your costs. Above all, you will understand more accurately how your business works and what its success depends on.