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Argosy University Orange County - Get Info on Business Programs.
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Consulting & Enterprise Integration For End-to-End Solutions From AT&T
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Program offering a Master's in Business Administration and a Doctor of Philosophy (PhD) degree with a concentration in risk management.
www.bus.utexas.edu
Provider of listings of books and workshops on risk management, financial mathematics, financial engineering and quantitative finance.
finmath.com
Center at the J. Mack Robinson College of Business which studies and disseminates information trends and issues in the areas of insurance and risk management.
rmictr.gsu.edu
Economic research, forecasting and consulting firm providing presentations and seminars for investment institutions, banks and industrial companies.
www.lombard-st.co.uk
Courses are offered at undergraduate and graduate levels in risk management and insurance (RMI) within the E. J. Ourso College of Business Administration.
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This company provides decision analysis tools and techniques for engineers, scientists, project managers and analysts, as well as providing training in decision-making process, economic evaluation and project risk management.
www.maxvalue.com
Provides consulting services in risk assessment and risk management, corporate governance, accountability and management control and improving the internal audit function.
www.mc2consulting.com
Undergraduate degree program located within the School of Business Administration.
www.olemiss.edu
University department offering programs in studies related to risk management and insurance, actuarial science, personal financial planning, and law and ethics.
www.rmi.gsu.edu
Programs in risk management are offered within the Terry School of Business.
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Department within the University of Pennsylvania's Wharton School that carries out a program of basic and applied research to promote effective policies and programs for low-probability events with potentially catastrophic consequences.
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Department within The Wharton School at the University of Pennsylvania that approaches its field from a number of different perspectives: as a market, a risk management technique, a business, and as an instrument of public policy.
rider.wharton.upenn.edu
This department within the UW - Madison School of Business offers students a specialized undergraduate degree.
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Guide to Taking Intelligent Business Risks
Zero in on the best opportunities with effective risk management
- Calculating, analyzing and planning
- Overcoming their fears
- Adapting to change
- Persisting in the face of failure
Action Steps
The best contacts and resources to help you get it done
Identify risks — and measure them
The best place to find risks is in your business plan. Comb your plan for risks and make a list of probable threats as well as potential opportunities. Within your list, separate responsible risks from reckless ones. Smart risks are those for which the potential gain is larger than the potential loss. Use a cost-benefit analysis to measure those gains and losses and to find out which is greater.
I recommend:
Purchase and download a decision-making tool from BusinessCase.com that helps you measure potential return on investment (ROI). Review a cost-benefit analysis example from About.com.
Manage bad risks
Protect your company from potential losses by minimizing the harmful impact of bad risks. Small business insurance can defend your business against a slew of potential pitfalls.
I recommend:
Visit the Hartford Financial Services Group's Web site, which has a section devoted to reducing the risks of your small business. It includes a number of tools and resources, such as an assessment tool to "Test Your Risk IQ" and an "E-Business Risk Analyzer."
Act on smart risks
Once you've identified an intelligent risk, take it. After all, you can't expect to benefit from an opportunity if you don't embrace it.
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Risk management can help you identify worthwhile risks and implement strategies for pursuing them; learn the ins and outs of risk management by downloading "The Risk Management Standard," which will help you accurately define and evaluate risks and related opportunities.
Evaluate results
Not all risks will prove successful. Analyze a risk's outcome in order to learn from any mistakes you might have made. The more risks you take, the more quickly you'll learn which ones are worth taking and which ones aren't.
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Risk management consultants — such as Protiviti and Marsh — can not only help you identify worthwhile risks, but they also can also help you measure after the fact whether those risks paid off as you'd hoped they would.
Tips & Tactics
Helpful advice for making the most of this Guide- Having doubts about risks is healthy, but fearing them is not. Embrace your doubts as opportunities for analysis and eschew your fears as roadblocks to success.
- Some risks are bound to be good for business, while others are doomed for failure. Inherently bad risks include those that jeopardize your business's security, economic health or legal well-being. Inherently good risks are those that have long-term potential to grow your business and your bottom line.
- Essential to successful risk-taking is careful and early planning; have the courage to look beyond the immediate future and the foresight to determine if a risk will pay off in the long run.
