Retail businesses are usually small with small budgets, is it possible for them to engage ERM in any meaningful way.
Retail activity is always exposed to many different risks that require dealing with it
To avoid any possible losses, the most important risks to retailers:
- Decreased consumer spending
- Reputation
- Increasing competition
- Supply chain failure
- Increase shopping across networks.
- Non-compliance with laws and legislation.
- Fraud and theft.
ERM involves a significant allocation of resources which many small and medium-sized businesses cannot afford, however a captive may provide a more viable alternatives, according to David Kirkup, COO and CFO at Captive Alternatives.
Have a look here https://www.captiveinternational.com/contributed-article/enterprise-risk-management-in-the-small-and-medium-company
- Badges
- Science topic
- Similar topics
- Econ
- Business Economics
- Business