For corporate business leaders and decision makers, the terms risk management and strategy management could not be more different—and understanding those differences and their impact on business continuity is imperative for organizational success.
Threat x Probability x Business Impact = Risk
Risk management involves focusing on identifying and preparing for potential threats and failures rather than opportunities and successes. Corporate risk takes into account threats facing an organization, which can range from natural disasters and health epidemics to cyber crime and economic uncertainty, and analyzes those threats in terms of their probability and overall business impact. Types of risk vary from business to business, but preparing a risk management plan involves a relatively conventional process: Threat x Probability x Business Impact = Risk. This equation can help an organization determine which risks exist that may impact business continuity and to what degree—and then create a plan to mitigate those risks moving forward so they have minimal impact on an organization’s ability to meet its objectives. By recognizing potential risks and creating strategies to minimize it, businesses are better prepared to prevent or overcome an incident should it occur.
A risk management plan should detail the strategy for dealing with risks in business. It’s important to allocate some time, budget and resources for preparing a risk management plan and a business impact analysis. It will help meet legal responsibilities for providing a safe workplace and can reduce the likelihood of an incident negatively affecting the business.
However, companies and firms often have a tendency to discount the future, and they’re hesitant to contribute time and capital now to avoid an unpredictable future problem that may or may not happen. Furthermore, mitigating risk typically entails dispersing resources and diversifying investments. For these reasons, most companies need a separate function or external help to handle corporate risk management strategy creation and execution, and, as the world’s leading provider of corporate risk management services, Pinkerton is just the agency to help organizations do just that.
Pinkerton has more than 160 years of experience helping brands identify and manage risks that could potentially harm day-to-day operations. From investigative work to corporate risk consulting, Pinkerton prides itself on offering a wide variety of services necessary to keep client operations safe. The company traces its roots to 1850 when Allan Pinkerton founded Pinkerton’s National Detective Agency. Throughout its rich history, Pinkerton created the forerunner to the U.S. Secret Service, hired America’s first woman detective, and has remained the industry leader in developing innovative security and risk management solutions for national and international corporations. With employees and offices around the world, the company has the resources to provide reliable and scalable protection for clients and their assets around the globe.
The Leader Who is Steering a Clear Path to Success
Jack Zahran, President of Pinkerton, has extensive experience in enterprise risk management; global operations, sales, and marketing; global and national business and client development; mergers and acquisitions; and global finance and contract management.
Under his leadership, Pinkerton has emerged as a leader in this very domain, providing a unique scalable blend of strategic and tactical solutions. Jack says, “Every company is different, and security needs are always changing. Pinkerton tailors and adjusts its service to fit what’s best for you. Options range from temporary personnel to full-time dedicated staffing. Pinkerton’s dedicated professional solution embeds highly-experienced professionals in the client’s organization to deliver superior, reliable and timely risk mitigation.”
Pinkerton offers national and global organizations a vast selection of reliable risk management services, including:
Employment Screening: The company implements solutions that incorporate standardized best practices, which helps streamline workflow and maximize productivity throughout the entire employee lifecycle.
Security Risk Management: Whether an organization functions in a single, multi-story environment or operates facilities in locations scattered around the world, Pinkerton can develop comprehensive safety and security plans filled with effective strategies and programs designed to protect every essential element of a business: employees, customers, supply chain, the physical environment and products.
Investigations: Pinkerton provides in-depth investigation services that can help mitigate internal employee issues, external risks, and branding and intellectual property protection.
Protective Security: Pinkerton’s highly skilled agents serve as trusted resources to protect high-visibility business executives and celebrities, including Fortune 100 CEOs and their workforces, famous entertainers, athletes, high-net-worth individuals, royal families and diplomats. The firm’s services range from providing one-time personal protection to developing long-term comprehensive personnel and asset protection programs.
Response Services: No matter where in the world a company’s assets and people may be, Pinkerton can help maximize protection during any emergency situation. Pinkerton’s Response Services team can work with companies to prepare for – and respond to – any emergency situation.
Intelligence Services: Pinkerton incorporates actionable intelligence into every aspect of their service offerings. As a result, the company delivers increased protection to clients’ personnel, operations and assets. Pinkerton’s Global Risk Group compiles, analyzes and disseminates critical, timely intelligence so that clients can prepare for risks arising globally.
Pinkerton Success Secret: Making Strategies to Serve Clients in the Best Way
Pinkerton provides a uniquely holistic approach to risk management, where the firm designs and continually upgrades its services and solutions to protect all areas that pose a risk to a business and its operation, both inside and outside of the company. The company has expertise in virtually every facet of risk management. The firm utilizes a single point of contact model: just one call gives clients access to Pinkerton’s entire breadth of risk mitigation and risk management services. And, as client needs change, just one call is all a client needs to scale services—allowing Pinkerton to ensure it always delivers the most effective and efficient solution based on current or expected conditions.
Pinkerton’s proven 360-degree support model incorporates components essential to be successful in today’s ever-changing risk landscape. It starts with attracting and retaining industry-leading risk mitigation specialists through extensive screening and training. It then integrates access to best practices; extensive resources; global connectivity; benchmarking; and much more. This performance cycle ensures Pinkerton always provides outstanding service and delivers outstanding value to clients. Pinkerton gives clients access to rich, timely and actionable intelligence: agents have access to vital information from their global network of resources via cutting-edge technology, including threat monitoring, real-time alerting and GPS tracking. The ability for Pinkerton agents to filter and respond to relevant information provides business leaders and decision-makers with an added level of Protective Intelligence that only Pinkerton can deliver. This actionable information allows them to make risk-mitigating decisions that are more timely and accurate.
The company features an exclusive global resource network: dozens of offices and a myriad of partners around the world that can provide “boots on the ground” support nearly anywhere, anytime. Pinkerton agents understand the local laws, languages or customs of every country and region, enabling them to gather intelligence faster and deliver more effective solutions. By leveraging this global network of comprehensive knowledge and resources, Pinkerton can access vast amounts of detailed intelligence and provide clients more accurate and timely information and analysis.
“We make it easier to anticipate and react to events that occur nearly anywhere around the world,” says Jack.