By Henry Uche
Risk is a phenomenon. Every business faces different kinds of risks at every stage of business growth. The way and manner we handle risks goes a long way to affect our individual life, corporate organisations and our environment at large. Since the primary purpose of being in business is to make profit and sustain growth, decisions on risks- related issues are not easy to come by, however such decisions must be taken painstakingly. For this reason, experts in risk, hazards and crises management are leaving no stone unturned to ensure that people take calculated risk if one must stand strong when the expected or unexpected incidents happen.
Speaking with the Head of Risk Management and Compliance, at Sovereign Trust Insurance, Mr. Sanni Oladimeji, outlined ten major risks corporate organisations must watch out for this year 2023, if they must survive the ever- turbulent economic and business environment.
First is the Regulatory Risk (a high profile kind of risk). This type of risk can be seen in changes in regulatory or legislative policies or level of compliance that may threaten the company profitability or result in sanctions….
