Businesses urged to think global

 

This was said by Mr Tichaona Zororo yesterday at a Business Breakfast Talk and Networking forum breakfast meeting organised by First Mutual Life assurance company.
Mr Zororo is a Zimbabwean based in South Africa and is an expert in portfolio assurance management, risk and information systems control and systems audit.

“Gone are the days of having a local mind in business, rather you should now develop a global mind that involves attracting clients from anywhere in the world, follow international best practices and also invest in risk management as it is a critical component of all business entities.

“Risk management should be a process that is initiated by an entity and incorporated into its business strategy across the board designed to identify potential events that may affect the entity and manage risk to be within its risk appetite and provide reasonable assurance regarding the entity objectives,” said Mr Zororo.

Mr Zororo also emphasised the need for an integrated approach at the workplace because individual efforts may affect the company’s basic goals among them increasing market share, revenue growth and customer care.

“The key to overcome risk in an organisation was to be able to integrate it into the overall company strategy and also be able to balance the cost and management of risk so that the cost should not be higher than the risk that you are trying to mitigate,” he added.

First Mutual Life managing director Ms Ruth Ncube commended BBTN for providing such a platform for business networking and interaction as it allows for exchange of ideas that can help boost businesses.

“This is a commendable initiative by BBTN as it has enabled us to share our objectives and products with both our existing and potential clientele and get their input that will go a long way in helping us come with customer centred products and services.

“As you are aware we are risk managers as well as wealth creators and managers through our products range so this power talk has imparted one or two things that can help improve our risk management policies,” she said.