Running a business is an inherently risky proposition. From physical vulnerabilities to dangers posed by individuals or groups, risks and threats can be costly and, if not managed effectively and proactively through a thorough Threat and Risk Assessment (TRA), can be hazardous to a company’s current health and future prospects.

Recently, Export Development Canada (EDC) identified the top 10 global risks facing Canadian companies. Sitting at the top of that list were economic risks, while others identified included failure to attract and retain talent, and failure to innovate and address productivity.

It’s a reminder that risks and threats can come from anywhere, anytime, and that being prepared only makes good business sense. For instance, writing for CIO, Jennifer Lonoff Schiff discusses the risks individual employees can produce, including disgruntled workers and/or careless or uninformed personnel.

“Similarly, employees who are not trained in security best practices and have weak passwords, visit unauthorized websites and/or click on links in suspicious emails or open email attachments pose an enormous security threat to their employers’ systems and data,” she writes.

A Threat and Risk Assessment can also be invaluable in protecting employees and assets, such as those vulnerable to cyber-attacks. A recent survey highlighted the business dangers that arise from an increasingly connected world.

“If businesses want to protect their assets and reputations, expanded security systems are essential to deal with increasingly sophisticated criminals … only 44 per cent of the survey’s respondents of 9,500 executives admit that their corporate boards participate in developing security strategies, but that needs to change in a rapidly evolving digital society where security threats increase exponentially,” relates a post at Interwork.

Assessment Mitigates Risks and Threats

Risks and threats come in a variety of forms, some of which are obvious while others are less so. A Threat and Risk Assessment of the type delivered by the experts at Investigative Solutions Network Inc. (ISN) will identify problem areas, and develop strategies to anticipate and counter potential threats.

The assessment focuses on the potential risks and threats a business faces, including those impacting employees and assets. It provides the foundation of a robust security management program for employers, domestically and globally, ensuring that risks and threats are well managed with minimal impact.

Remember, if you fail to prepare, you are preparing to fail. Knowing what you are up against helps to avoid some very unpleasant surprises.

The process includes developing appropriate security measures to handle risks and threats. Potential risks include those associated with workplace violence/harassment and volatile domestic situations which can find their way into any plant or office with little fanfare until an incident occurs. Our assessment evaluates psychological, behavioural and situational factors to determine the likelihood of violence, providing clients the means to avoid and, if need be, react to such situations.

These and other factors all impact business success and profitability, but can be managed with a thorough TRA of the type provided by ISN experts. Contact us today for more information about how to begin your own TRA.