The Role of Goal-Setting in Risk Management

[Moseschidera]

I think goal setting can actually help mitigate risk but you should be flexible with your goals and plan. Just because you've set a certain target for the month or year doesn't mean you can't adjust your strategy if things aren't working out how you expected. Having goals is great for keeping your business on track but don't be afraid to revise them if you need to test something new or pivot to reduce risks. The most important thing is learning from your experiences running the business - so try things, and if they're not hitting the goals then re-evaluate and don't be afraid to change path. As long as you're learning, you'll continue reducing risks over time.

 

[magnus2022]

Smart entrepreneurs use to have flexible plans than have room for adjustments. Our plan don't have to be rigid and complex. Plan should be easy to follow and have some primary options or alternatives. If your business plan did not go as plan, you will immediately switch to plan b.

 

[Augusta]

Set business goals as having goals is great for keeping your business on track, then revise them if you need to test something new to reduce risks and manage it

 

[Moseschidera]

Smart entrepreneurs use to have flexible plans than have room for adjustments. Our plan don't have to be rigid and complex. Plan should be easy to follow and have some primary options or alternatives. If your business plan did not go as plan, you will immediately switch to plan b.

Exactly, your goals should have alternatives in case your expectations did not come to pass. Just because you've set a certain target for the month or year doesn't mean you can't adjust your strategy if things aren't working out how you expected.

 

[Augusta]

Goal setting keeps us on our toes which helps is to minimize risk. it is always the best to set goals for our business

 

[Stardom22]

The setting for the realistic business goals is indeed very important factor for the running of the successful businesses.Therefore highlighting on the most affected areas of the business is however very important

 

[Augusta]

When you set realistic goals you are naturally working towards managing risks. Because your goals would include risk taking and management

 

[eLdavis]

Which means while we have goals and targets, we should also be flexible. The world is currently changing, anything can happen at anytime.

 

[Augusta]

It is good to plan towards risk management when it comes to business. The things is that challenges would always come with business

 

[King Belieal]

When you understand the risks that are associated with your business, you would be able to set strategic goals that are realistic and in view of the risks involved.