How do we turn new risk as new opportunities in this economic crisis?

     In order to improve risk management, and financing, this is why when we get new projects with new customers, we take more caution and ask them to pay enough deposits or ensure they have good finance back up before taking their orders. We just completed a project for a sport retailer with full payment ahead and gave them 2% discount in the deal—at the end, both sides were very happy and pleased the result. Good management and approaches that deal with business risk and financial risk, or plan ahead are very important to a small business, and the same toward a large organization.

     In this global economic crisis, as business risk and financial risk are increasing everywhere, and slow down business, some tech companies (e.g., CA, BMC, McAfee, Symantec, HP, SAP, Fortify and NitConnect), however, are entering a wave of new ventures.  Preimesberger (2008) analyzes and claims, “Vendors that sell software for risk management, secure and managed file transfers, e-discovery, e-mail archiving, and enterprise search are positioned for a boom as the business and financial sectors call on their services… This financial mess is one colossal example of poor risk management” (p.1).  The firms that concentrate and specialize in risk assessment systems, as the above, will keep busy for a while or until the dust is settled. For some  business enterprises, new risk may be another new opportunities.

Reference

Preimesberger, C.  (2008). Benefiting from troubled times. eWeek, 25(19), 20-22. Retrieved March 07, 2009, from firstSearch database.