Crisis-Proofing Your Business: Tips For Managing Risk

Business News

Thursday, 3 April 2025, 12:09 pmArticle: Hugh Grant

Do you own or run
a business in Australia or New Zealand? It can be
incredibly rewarding, both on a personal and financial
level. Unlike being employed, your earning potential can be
without limits, provided that you manage your business
successfully. Part of running a successful business is
planning and preparing for the future. It also includes
crisis-proofing your business and managing risk, including
risk preparation and mitigation strategies. This informative
article will share key tips for managing business risk so
that you can be more prepared for any events that may befall
your business. Continue reading to learn more.(Photo/Supplied)What
is Crisis-Proofing?Crisis-proofing
your business means implementing strategies and measures
to ensure business resilience and stability in the face of
unexpected challenges or events. It means that you’re
prepared for any outcome that could have a negative impact
on your business. A crisis is a single event or ongoing set
of circumstances that could have an adverse effect on your
business. It could include cash flow issues, employee or
customer injury, legal issues, problems with supply chains
or stock level problems. It is vital to be prepared for any
crisis events if you own or run a business in
Australia.Types of Risks

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Now, we’ll outline
a few types of risks that a business needs to be prepared
for. We’ll cover financial, operational, reputational, and
legal risks.Financial RisksThere are a few
different financial risks a business can prepare for.
One major one is cash flow shortages, which can occur from
delayed payments from clients or customers, unexpected
expenses popping up, or poor financial planning and
decision-making. This can lead to an inability for your
business to cover its operational costs. Also, market
fluctuations, such as changing consumer demand, economic
downturns or recession, and shifts in sector trends can all
impact a business’s revenue and profitability. Events such
as interest rate changes can impact business loan repayments
and borrowing expenses, making it more expensive for the
business to finance its operations or any planned
expansions.Operational RisksOperational
risks for businesses can arise from issues such as staff
inefficiencies, business disruptions, and key failures in
internal processes, staff actions, and business systems.
Human errors, such as critical mistakes in financial
management and reporting, mismanagement, or inadequate staff
training, can lead to costly consequences for your
business.Supply
chain disruptions, caused by armed conflict, shipping
crises, natural disasters, overseas political instability,
or wholesaler and supplier failures, can delay the
production of goods that you sell and impact customer
satisfaction due to stock shortages. Technology risks,
including software malfunctions or outages, cyberattacks,
and outdated or inefficient software systems, can halt your
business operations and compromise sensitive customer data,
leading to loss and reputational damage. In addition,
workplace safety hazards, such as insufficient or poor risk
management, issues with compliance with health and safety
regulations, or crucial equipment failures, can lead to
pauses in operations or even the closure of your
business.Legal RisksA business can face
legal risks when it finds itself in hot water legally due to
incidents or issues with the business. Unexpected
incidents—like a customer slipping on your premises or
damage caused by your services—can lead to costly legal
battles. That’s why public
liability insurance is a must-have for businesses of all
sizes. It covers you against claims of injury or damage to
third parties, helping you avoid financial strain in the
event of a lawsuit. Having the right insurance in place is a
key part of any solid risk management plan.(Photo/Supplied)How
to Conduct a Risk AssessmentWhen it comes to
mindful, proactive risk management techniques for
businesses, choosing the correct risk assessment approach is
an essential step in ensuring their success and mitigating
key risks.Qualitative
risk assessment means assigning subjective values to the
chance and impact of risks. It’s a quick and smooth way to
prioritise risks and implement mitigations for
them.Quantitative risk assessment, on the other hand,
is a more numerical or mathematical approach that involves
data analysis and modelling to help determine risk
probabilities and impacts.Business analysts and data
scientists can be hired to help with this approach, and they
are worth their weight in gold.Your choice between
these two risk assessment approaches will depend on the
specific needs of your business. For instance, qualitative
assessments can provide a rapid and pragmatic method of
prioritising risks based on subjective inputs. In contrast,
quantitative assessments offer a more exact, data-driven
analysis of probabilities and their associated impacts. The
size and scope of your business might play into which risk
assessment method you choose.Tools & Frameworks
for Risk AssessmentsThere are several tools and
frameworks at your disposal for accurately assessing risk.
We’ll share two of them here:SWOTA SWOT
analysis (strengths, weaknesses, opportunities, and
threats) is a risk management framework used to evaluate a
company’s competitive position and to develop strategic
planning to assess and mitigate risk. SWOT analysis assesses
various internal and external factors, as well as current
and future potential for the business. A SWOT analysis is
designed to facilitate a facts-based, realistic, data-driven
look at the strengths and weaknesses of a company, business
initiatives, or place within its
industry.PESTELA PESTEL
risk assessment is a tool used to analyse certain types
of risks for a business.The acronym stands for the
following:Political risksEconomic
risksSocio-cultural risksTechnological
risksEnvironmental risksLegal
risksBy considering and assessing these
different types of risks, a business can plan and prepare
for most potential outcomes, protecting its revenue and
profitability.This helpful article has shared about
crisis-proofing your business and how you can proactively
plan, prepare, manage and mitigate various risks. We’ve
shared key types of risk, as well as two risk assessment
tools that you can use to plan and prepare for
risk.

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TSTC graduate unlocks his love of learning with automation and controls technology

Technology

Intrigued by his brother’s achievements at Texas State Technical College’s Marshall campus, Taylor Nealy enrolled in the automation and controls technology program there.“I wanted to learn everything about (the program),” Nealy said.Nealy said his enthusiasm was matched by a variety of in-depth, hands-on lessons, taught by TSTC instructors who loved the subjects. His instructors even recommended him for a part-time position at the Longview location of E Tech Group, an industrial automation contractor, where he worked for one and 1/2 semesters as a manufacturing technician.#placement_588539_0_i{width:100%;margin:0 auto;}“The instructors covered a big, broad basis just to make sure you were prepared for wherever you went,” he said.Nealy received his associate degree from TSTC in 2024. He had already begun working as an electronics technician for his current employer, Norris Cylinder, a manufacturer of high-pressure steel and acetylene cylinders.Nealy continues to maintain his love of learning, taking classes offered through his employer.“I want to rack up as many certificates as I can to build my resume up,” he said. “There’s a lot to learn, and I’m excited to learn it all.”Jose Rocha, a fellow TSTC graduate and electronics technician for Norris Cylinder, said Nealy is always trying to learn whatever he does not know.“At a young age, he’s come so far in this company, and in life too,” Rocha said. Nealy described technical colleges as the backbone of the United States.“If we didn’t have technical schools like TSTC, then this country wouldn’t run,” Nealy said. “TSTC is a place where people go to start their future.”According to onetonline.org, electro-mechanical and mechatronics technologists and technicians earn an average of $59,940 per year in Texas, where the number of such jobs was projected to increase 12% from 2020 to 2030.TSTC’s automation and controls technology program is featured exclusively at the Marshall campus and offers an associate of applied science degree.For more information on TSTC, go to tstc.edu.

Republicans Praise Trump for Liberation Day, Reciprocal Tariffs: U.S. Is ‘Being Respected Again’

US & Canada

Republican lawmakers praised President Donald Trump for announcing that foreign countries would be hit with reciprocal tariffs and that there would be a 25 percent tariff imposed on foreign-made vehicles. Rep. Tim Moore (R-NC), Rep. Addison McDowell (R-NC), Sen. Rick Scott (R-FL), Rep. Troy Nehls (R-TX), and Rep. Andy Harris (R-MD) were among the Republicans…

A Bonkers New Trailer Asks: What If Jurassic Park Was A Vietnam War Movie?

Arts & Culture, Film & TV

[embedded content]

Have you ever wondered what it would be like if someone decided to make a Vietnam War movie that had dinosaurs in it? If you have, today is your lucky day. Even if you haven’t, today is also your lucky day because this concept is being introduced to you in the form of the first teaser trailer for “Primitive War.” This is a very real movie that is coming out this year that is based on a very real book. Check it out for yourself above and marvel at what’s coming.
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There’s a lot to discuss here. There are lots of dinosaur movies that aren’t “Jurassic Park.” Everything from “The Land Before Time” to “The VelociPastor.” But in the realm of blockbuster entertainment, the “Jurassic” franchise has had a stranglehold on the genre for decades. While “Primitive War” is probably closer to a mockbuster, it does look pretty darn good, even though the budget is clearly not huge. The special effects are largely impressive. The movie didn’t skimp on the dinosaurs. The action set pieces look rad. In other words, this looks like it might be the best kind of bats**t crazy movie.
Directed by Luke Sparke, this one is expected to arrive sometime this summer. Perhaps not coincidentally, Universal is also releasing “Jurassic World Rebirth” in July. It’s shaping up to be a dino-filled year, it seems, with two very different dinosaur movies on offer. The synopsis for “Primitive War” reads as follows:
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Set in Vietnam in 1968, the Primitive War movie will follow a search and rescue team known as Vulture Squad sent to an isolated jungle valley to reveal the fate of a missing Green Beret platoon. As they hunt through the primordial depths of the valley and the casualties mount, the Vulture Squad members must embrace their savage instincts to survive the horrors they face, including the ultimate Apex predators, dinosaurs.

Primitive War is giving Jurassic World some competition

Sparke Films

The film is based on author Ethan Pettus’ book “Primitive War: Opiate Undertow.” I first wrote about the movie adaptation of “Primitive War” back in 2022 when Sparke Films secured the rights. Oftentimes, the rights will lapse and a movie won’t actually get made. In this case, Sparke managed to get this one across the finish line.
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“Dinosaurs in the Vietnam war? What’s not to love about that concept?!” Sparke said when the project was first announced in 2022. “When I first heard about the books, I loved the ideas and concepts Ethan brought into them, and we’re shaping our film version into an exciting survival-horror film.”
The cast is led by the likes of Jeremy Piven (“Entourage”), Tricia Helfer (“Battlestar Galactica”), Ryan Kwanten (“True Blood”), Nick Wechsler (“This is Us”), Anthony Ingruber (“Indiana Jones and the Dial of Destiny”), Aaron Glenane (“Snowpiercer”), and Jake Ryan (“Home and Away”).
Currently, it’s unclear if this one is going to get a theatrical release or if it will go straight to VOD/streaming. Look, if a mockbuster like “Top Gunner: Danger Zone” got its day in theaters, surely a dinosaur movie that is also a Vietnam War movie deserves the same. Here’s hoping, but we’ll have to see how it shakes out in the coming months.
Advertisement

“Primitive War” is due to arrive later this year but no specific release date has been set. Stay tuned.

A Bonkers New Trailer Asks: What If Jurassic Park Was A Vietnam War Movie?

Arts & Culture, Film & TV

[embedded content]

Have you ever wondered what it would be like if someone decided to make a Vietnam War movie that had dinosaurs in it? If you have, today is your lucky day. Even if you haven’t, today is also your lucky day because this concept is being introduced to you in the form of the first teaser trailer for “Primitive War.” This is a very real movie that is coming out this year that is based on a very real book. Check it out for yourself above and marvel at what’s coming.
Advertisement

There’s a lot to discuss here. There are lots of dinosaur movies that aren’t “Jurassic Park.” Everything from “The Land Before Time” to “The VelociPastor.” But in the realm of blockbuster entertainment, the “Jurassic” franchise has had a stranglehold on the genre for decades. While “Primitive War” is probably closer to a mockbuster, it does look pretty darn good, even though the budget is clearly not huge. The special effects are largely impressive. The movie didn’t skimp on the dinosaurs. The action set pieces look rad. In other words, this looks like it might be the best kind of bats**t crazy movie.
Directed by Luke Sparke, this one is expected to arrive sometime this summer. Perhaps not coincidentally, Universal is also releasing “Jurassic World Rebirth” in July. It’s shaping up to be a dino-filled year, it seems, with two very different dinosaur movies on offer. The synopsis for “Primitive War” reads as follows:
Advertisement

Set in Vietnam in 1968, the Primitive War movie will follow a search and rescue team known as Vulture Squad sent to an isolated jungle valley to reveal the fate of a missing Green Beret platoon. As they hunt through the primordial depths of the valley and the casualties mount, the Vulture Squad members must embrace their savage instincts to survive the horrors they face, including the ultimate Apex predators, dinosaurs.

Primitive War is giving Jurassic World some competition

Sparke Films

The film is based on author Ethan Pettus’ book “Primitive War: Opiate Undertow.” I first wrote about the movie adaptation of “Primitive War” back in 2022 when Sparke Films secured the rights. Oftentimes, the rights will lapse and a movie won’t actually get made. In this case, Sparke managed to get this one across the finish line.
Advertisement

“Dinosaurs in the Vietnam war? What’s not to love about that concept?!” Sparke said when the project was first announced in 2022. “When I first heard about the books, I loved the ideas and concepts Ethan brought into them, and we’re shaping our film version into an exciting survival-horror film.”
The cast is led by the likes of Jeremy Piven (“Entourage”), Tricia Helfer (“Battlestar Galactica”), Ryan Kwanten (“True Blood”), Nick Wechsler (“This is Us”), Anthony Ingruber (“Indiana Jones and the Dial of Destiny”), Aaron Glenane (“Snowpiercer”), and Jake Ryan (“Home and Away”).
Currently, it’s unclear if this one is going to get a theatrical release or if it will go straight to VOD/streaming. Look, if a mockbuster like “Top Gunner: Danger Zone” got its day in theaters, surely a dinosaur movie that is also a Vietnam War movie deserves the same. Here’s hoping, but we’ll have to see how it shakes out in the coming months.
Advertisement

“Primitive War” is due to arrive later this year but no specific release date has been set. Stay tuned.

This A24 Horror Movie With 94% On Rotten Tomatoes Is Crushing It On Netflix

Arts & Culture, Film & TV

Yes, “Talk to Me” has been lauded by critics for its clever storytelling and impressive practical effects, as the film sports a cool 94% on Rotten Tomatoes at the moment. But what makes this movie so special? For starters, it opts for a plausible premise that doesn’t seem too far from the realm of possibility, which adds to the terror evoked throughout.
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“Talk to Me” follows teenagers Mia (Sophie Wilde) and Jade (Alexandra Jensen), along with Jade’s brother Riley (Joe Bird), as they participate in a game involving a severed, embalmed hand that allows those holding it to be possessed by the dead. It’s entirely believable that a group of bored teenagers, all of whom are dealing with personal issues, would casually mess around with something so dangerous. Of course, strict rules are put in place to avoid causing any permanent damage, so surely none of these kids will get carried away as they take turns being possessed … right? Sure enough, the inevitable happens, and the story takes a pretty grisly turn even before the gravity of the situation sinks in.
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The adrenaline rush that comes with letting a spirit take over them is reason enough for these teens to find this enjoyable or even worthwhile. After all, any sort of ridiculous, over-the-top spooky video is an interaction magnet on social media; hence, when a participant violently chokes and contorts, it’s initially perceived with glee. However, this giddy spell breaks once things get out of control, and this is when “Talk to Me” shines, using its smart narrative device to instill fear in us as viewers.
Moreover, the intent here is to explore heavier emotions, such as the grief Mia is experiencing after losing a loved one, as she is trying to find ways to escape the hellish claws of pain. But can you really outrun an emotion you’re meant to accept and process, especially when the alternative is a nefarious specter that will end up outwitting you? As expected, the answers aren’t easy, as no two people go about life the same way.
If you haven’t experienced “Talk to Me” yet, this is a great opportunity to make the most of your Netflix subscription. No matter what your thoughts might be after the credits roll, you’re bound to emerge from the experience with a deep appreciation for the film’s escalating, pit-in-your-stomach horror. There’s even a “Talk to Me” sequel in the works, which promises to reveal more about the movie’s bleak, dreary universe than we ever imagined.
Advertisement

This A24 Horror Movie With 94% On Rotten Tomatoes Is Crushing It On Netflix

Arts & Culture, Film & TV

Yes, “Talk to Me” has been lauded by critics for its clever storytelling and impressive practical effects, as the film sports a cool 94% on Rotten Tomatoes at the moment. But what makes this movie so special? For starters, it opts for a plausible premise that doesn’t seem too far from the realm of possibility, which adds to the terror evoked throughout.
Advertisement

“Talk to Me” follows teenagers Mia (Sophie Wilde) and Jade (Alexandra Jensen), along with Jade’s brother Riley (Joe Bird), as they participate in a game involving a severed, embalmed hand that allows those holding it to be possessed by the dead. It’s entirely believable that a group of bored teenagers, all of whom are dealing with personal issues, would casually mess around with something so dangerous. Of course, strict rules are put in place to avoid causing any permanent damage, so surely none of these kids will get carried away as they take turns being possessed … right? Sure enough, the inevitable happens, and the story takes a pretty grisly turn even before the gravity of the situation sinks in.
Advertisement

The adrenaline rush that comes with letting a spirit take over them is reason enough for these teens to find this enjoyable or even worthwhile. After all, any sort of ridiculous, over-the-top spooky video is an interaction magnet on social media; hence, when a participant violently chokes and contorts, it’s initially perceived with glee. However, this giddy spell breaks once things get out of control, and this is when “Talk to Me” shines, using its smart narrative device to instill fear in us as viewers.
Moreover, the intent here is to explore heavier emotions, such as the grief Mia is experiencing after losing a loved one, as she is trying to find ways to escape the hellish claws of pain. But can you really outrun an emotion you’re meant to accept and process, especially when the alternative is a nefarious specter that will end up outwitting you? As expected, the answers aren’t easy, as no two people go about life the same way.
If you haven’t experienced “Talk to Me” yet, this is a great opportunity to make the most of your Netflix subscription. No matter what your thoughts might be after the credits roll, you’re bound to emerge from the experience with a deep appreciation for the film’s escalating, pit-in-your-stomach horror. There’s even a “Talk to Me” sequel in the works, which promises to reveal more about the movie’s bleak, dreary universe than we ever imagined.
Advertisement

Reporting ‘Rhode Kill:’ New Survey Calls on Citizen Scientists

Science and Health

There are more than a million wildlife vehicle collisions in the United States annually with significant personal and economic costs, according to the U.S. Department of Transportation. Every year, they result in about 200 deaths and 26,000 injuries to drivers and passengers and cost more than $8 billion.

Kathleen Carroll, assistant professor of applied quantitative ecology in the University of Rhode Island’s Department of Natural Resources Science, is working on a solution to make roads safer for both wildlife and humans. It will utilize the help of citizen scientists.

Rhode Islanders can now report roadkill that they hit or observe using a QR-code generated survey or online. The public’s participation will ultimately inform research efforts to mitigate risks for both drivers and animals. Usage of the survey is anonymous. With permission, it will pull the respondent’s GPS location but no personal data.

“If we identify key hot spots for roadkill, we can advise the Rhode Island Department of Transportation on ways to increase successful wildlife crossings,” Carroll said.

The pervasive problem of roadkill illuminates larger concerns about wildlife connectivity, the ability for animals to move freely from place to place. In western states, known migration pathways have informed efforts to facilitate safe movement through large underpasses and overpasses.

“We have eight of the ten most densely populated states in the Northeast,” said Carroll, “and the abundance of roadways and cities creates certain concerns. Here we have animals moving around, but we don’t have massive ungulate or mammal migrations, so we don’t have giant wildlife bridges or other things that work out West. There have been a lot of discussions about what is important when we start thinking about connectivity in New England specifically.”

Data from the survey will complement research conducted by Carroll’s graduate students that uses camera trap data to record animals’ usage of culverts.

“We know that animals are willing to use culverts, as opposed to crossing on the road, because they don’t want to be somewhere they’re going to die,” Carroll said. “So what is it about some culverts that makes them willing to use it?”

Identifying what is happening spatially at culvert sites will provides crucial information on predicting animal behavior, she noted.

The data from the Rhode Kill Survey will be paired with traditional data collection methods: graduate students in Carroll’s Quest Lab will complete surveys that utilize standardized effort, driving the same amount of distance from randomly assigned starting points and then pulling off the road to pick up roadkill for assessment of species, age, sex, and other identifications.

The Rhode Island Department of Environmental Management and the GPS app Waze currently collect roadkill data, but it’s very disparate. Carroll and the team are interested in establishing a data-sharing agreement to ensure all collected data can be used more effectively.

While the survey is in its early days, there is already growing interest in the work, including from the New York Department of Transportation.

The only required question on the Rhode Kill Survey is whether the animal was a deer. Additional optional questions include the ability to upload a photo and to participate in a follow-up driving survey. The latter is particularly useful to researchers, according to Carroll, because it provides information about the level of effort and driving habits of respondents.

For questions, more information, or to receive a bumper sticker with a QR code to the survey, contact Carroll.

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