Surgent’s Understanding Specific Risks in the Small and Medium-Sized Organization (SSMG727/24)
2020 taught us that major risks can come at us from any direction and with barely a warning. Risk management is a necessary tool for all organizations, but often overlooked by small businesses. In this program, we will briefly look at the concept of risk management and then delve into how to identify, evaluate, and mitigate specific risks. In each area, we will explore what our experiences of the pandemic have taught us about this part of risk management. Through the use of case studies in each type of risk, we will explore how both for-profit and not-for profit organizations would develop a structure to deal with certain specific types of risk. The use of case studies will allow us to apply the risk management concepts to “real world” situations.
CFOs, controllers, and finance professionals
Understand the concepts of risk management and how they apply to the small organization Recognize how we could have been better prepared for the pandemic See how all risks end up as part of financial risk management Develop a plan to handle marketing risk Determine operating risks and see how to mitigate them Understand how to handle compliance risk and still have good customer service Transfer environmental risks through a good insurance strategy Recognize the nature of cyber risk and develop a good mitigation plan
Why risk management is needed in every organization What COVID-19 has taught us about risk management Developing an overall plan of enterprise risk management Financial risk Marketing risk Compliance and liability risk Environmental risk Cyber risk
Experience in financial management of a small or midsize company