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A Higher Rate of Profit

Regarding Profit rate

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Chandana Munasinghe
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7 views1 page

A Higher Rate of Profit

Regarding Profit rate

Uploaded by

Chandana Munasinghe
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Safeguarding the Resources of Your Business

Safeguarding your company's assets is crucial, be it information, supplies, or tangible equipment.


According to a recent IBM analysis, between April 2019 and April 2020, over 8.5 billion records were
exposed in data breaches; the average cost of a mega-sized data breach was $3.86 million US. Eighty
percent of thefts during the one-year period ending in April 2020 involved personally identifiable
information (PII) relating to customers. Because of this, developing a strong and practical risk
management plan is essential for safeguarding resources and client information.

Customer Contentment and Devotion

Customers find comfort in seeing and interacting with your company's logo, brand, digital presence, and
reputation on a daily basis. Customers can continue to feel secure and confident in your brand and
reputation when your company has a well-developed risk management plan and implements it. By
securing these assets, your risk management techniques and procedures assist you in preserving your
reputation and brand. Additionally, it guarantees that clients will continue to have faith in your ability to
fulfill your commitments and provide the goods and services you have promised. Higher levels of client
loyalty, retention, and satisfaction are the outcomes.

Gaining Understanding and Reaching Objectives

The ability to properly manage risks is critical to meeting deadlines and accomplishing desired outcomes.
Identification, assessment, and management procedures related to risk management help your business
identify weaknesses more quickly and eliminate endeavors and activities that don't yield a profit. This
raises the likelihood that your projected project portfolio and broader business objectives will be met,
and that you will experience the predicted advantages.

A Higher Rate of Profit

For most firms, being profitable is the ultimate goal. A violation of this kind typically has a significant
financial impact and necessitates long hours of work with legal and insurance teams to carry out
extensive investigations. Maintaining your business's bottom line requires careful management of
operational, reputational, market, credit, and other risks.

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