By knowing and understanding the future and potential risk you have performed the basic of risk management. The unfavorable chance that may occur is a potential risk that will brings devastating result for the business and organization. People who do not have good risk management will defeated and disconnect themselves to avoid being related with the unfortunate event. But with good risk management you can reduce the outcome using a proper counter measure decision and actions.
Preparing for the trouble
Strong organizations that have good risk management will be able to prepare themselves mentally, physically and financially when the unfortunate events occur. The organization that produces the right decision to overcome the situation will be able to survive and push themselves to higher position.
What to do when the trouble strikes
To deal with the unfortunate event is you need to admit that the event has happen and prepare for the consequences. It would be best to not blame the matter to someone, but it would be better to start organize your best team member to describe and engage the problem properly. Find a good leader to lead the team, build a good teamwork, focusing and maximizing the teams’ energy and resources such as talent, knowledge, skill and experience, to save the business and organization.
Avoid panicking, because it will lead to rush and desperate decisions that useless to solve the problem. They should keep their head cool and calm. There will be people who are criticize and skeptical with the decision and actions that are taken, but the decision maker should not be confuse and distract by them and keep focusing to handling the problem that happen.
The biggest disadvantages from the risk management is that you putting yourself to become the most unpopular person because the decision that you make. But if you can pull it off and save the business and organization you will be remembered and given another opportunity to rise to higher position.