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Business Morning: Expert Says Risk Management Is Prerequisite For Business success Part3
Posted
July 29, 2014
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July 29, 2014
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9:37Now PlayingEffective enterprise risk management framework is a fundamental prerequisite for business success, a business consultant reiterated on Tuesday.
In Nigeria, there's the risk of infrastructure challenges, change in government policies just to mention a few.
The CEO, Deon Consulting Services, Mr Tom Olumoya, who was the guest on ‘Business Morning’, said most businesses do not factor these risks into their planning and so ignore the possibility of being able to manage the situation and protect their investments.
According to him, developing an effective risk and compliance management framework helps an organisation to take advantage of business opportunities as well as increase their competitive strength.
He said this would go a long way in enlarging the coasts of business ventures and reduce the mortality rate of Small and Medium Enterprises, as it is an essential management tool for developing a strong business structure.
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