The Business Of Risk

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Today, we see a number of risks associated with businesses of all sizes, ranging from identity theft, embezzlement, natural disasters, personal injury, fraud, vendor failure, taxes, finances, and more. Because of the increasing number and type of business risks, companies have had to make some major adjustments in overall operations, management, and strategy. When you couple risks with competition, you can see that it is imperative every company have a solid plan in place for protection and success.

One of the most important aspects of strategy is ensuring a solid risk management team is in place. These individuals would hold the responsibility of not just identifying potential risk but also creating and implementing sound processes, techniques, or technologies for prevention and/or correction. The risk management team however will not work in isolation but in tandem with other key stakeholders, such as department heads and the Executive team. Having a winning risk strategy is going to give your business the foundation on which to build a strong, competitive company but also a business that employees and clients trust.

What is the key to creating such a risk strategy? For one thing, you want to be productive but not make quick decisions. Unfortunately, we have seen many larger corporations that have put quick fixes into place, only to find they end up with a laundry list of new problems. Yes, it is essential that a good plan be developed as quickly as possible but make sure the plans being considered are not just short term fixes but will be beneficial long-term. While a risk management team can identify potential risk events, the team must work in conjunction with the organization so that strategies are aligned with the business goals. In essence, the best risk strategy is one component of the overall business strategy.

In addition, you need to review your company inside and out, top to bottom, to determine where risks lie. For example, missing payment on taxes can be an extremely costly mistake, sometimes upwards of $10,000 or more. In this instance, there would be a number of things to consider. Is the individual heading up the tax department qualified? What type of tracking system is being used? Is the department short-handed? Is the person in the mailroom delivering mail on time? These and other possibilities exist, which is where a risk management team would help. Once the problem area or potential risk is isolated, then changes could be made accordingly.

Another factor that unfortunately, is sometimes overlooked is the client. Obviously, if you are going to run a profitable business, you need satisfied customers. Perhaps there are areas of service or product where customers are not happy but because no means of communication or input is in place, you have no idea. Therefore, you might think about sending out customer surveys, trying to find any weaknesses that need to be strengthened. It is imperative that you know your customers and that those customers are so satisfied with what you offer so they will not look elsewhere.

Things happen in businesses and sadly, many great companies have gone under because of lack of risk management and/or strategy. Enron, is only one of many examples in which a failure to manage risk or even identify risk ruined a company. Another often cited example is Barings Bank which was one of the most respected merchant banks in the United Kingdom. The company which held $900 million in capital was bankrupted due the actions of one trader. The losses and subsequent bankruptcy could have been avoided if internal controls had been in place. There are countless other global examples of the consequences of not identifying risk events.

While federal regulations such as Sarbanes-Oxley have mandated corporate governance and controls, managing risk is simply good business. Identifying risk events and formulating response strategies enable the organization to successfully execute its objectives.

Richard A. Hall is founder and President/CEO of LexTech, Inc., a legal information consulting company. Mr. Hall has a unique breadth of experience which has enabled him to meld technology and sophisticated statistical analysis to produce a technology driven analytical model of the practice of law. As a busy civil trial attorney, he was responsible for the design and implementation of a LAN based litigation database and fully automated document production system for a mid-sized civil defense firm. He developed a task based billing model built on extensive statistical analysis of hundreds of litigated civil matters. In 1994, Mr. Hall invented linguistic modeling software which automatically reads, applies budget codes, budget codes and analyzes legal bill content. He also served as California Director and lecturer for a nationwide bar review. Mr. Hall continues to practice law and perform pro bono services for several Northern California judicial districts.Online Computer Programming Schools
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Let A DUI Lawyer Protect Your Rights

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The consequences of Driving Under The Influence, or DUI, charges are far reaching. The criminal justice system can be a complicated process and the penalties of a DUI are quite severe. You should be aware that in some cases, those convicted of a DUI are subject to significant fines, legal costs, court costs, and even jail time.

Every person facing this charge is in need of a good defense and protection of their rights. The reason you need to obtain an experienced DUI lawyer is that research shows that many individuals arrested and charged with DUI are not guilty because they haven't had too much to drink. While the State has a duty to enforce the law, persons accused of crimes such as driving under the influence are still innocent until proven guilty.

There are a number of opportunities to build a solid defense for these cases, as it was found that breathalyzer machines can often give false readings. Successful defense of a drunk driving charge requires specialized defenses. Attorneys that specialize in this particular type of case are best qualified to formulate your defense and protect your rights in court.

Who Gets Arrested for DUI

Statistics show that males between the ages of 16 and 24 are most likely to be arrested on DUI charges. Most individuals arrested are middle class working citizens. Sadly, DUI statistics also indicate that approximately one-third of those arrested are repeat offenders.

DUI Fines and Penalties

The penalties for DUI are different than those for DWI (Driving While Intoxicated), but are still severe and can result in long term negative consequences for you and your future.

The penalty for a first DUI offense can be limited to just a fine. However, the fines can vary and sometimes are very large. Also, in some states, fines may be doubled if a passenger under 16 years old is riding in your car.

But, depending on the jurisdiction, the penalty can also result in the revocation of your license, a criminal record, a short jail sentence, and/or public service. Prosecutors in many states have pressed for tougher penalties because many DUI suspects, especially repeat offenders, refuse to take the breathalyzer test. Unfortunately, these more severe penalties affect those who have been cooperative or have been wrongly accused.

For those who are repeat DUI offenders, you will generally face mandatory loss of license, jail time, and significant fines and court costs. So, just accepting the charges without a strong legal defense is a formula for personal disaster.

DUI Legal Defense

A DUI lawyer can help mitigate or reduce the charges and ensure that your rights are protected to the extent of the law. The plain facts are that many people arrested and charged with DUI are not guilty. Even if you have made statements at the time of arrest, they can be thrown out as part of the proceedings. A qualified DUI attorney will know all the details and the legal procedures involved.

The penalties for DUI are severe, and should be taken very seriously. Being found guilty of a DUI charge can have life-altering consequences for you and your family. So, think about it - can you afford to be without legal counsel? Not a chance!

Bill Wilson is a freelance writer for many online publications and newsletters. He is a legal researcher and consumer advocate. You can learn more about the need for a DUI lawyer and legal defense strategies by visiting http://www.attorney-assistance.com, where you will also find info on DUI fines, DUI defenses, DUI law and more. Mr. Wilson can be contacted at info@attorney-assistance.com.Camera G Internet Video Wireless
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