Risks associated with innovation and enterprise
There are also of course risks associated with innovation and enterprise.
Failing to meet operational and commercial requirements
As businesses develop, there will be operational and commercial requirements that they will need to comply with. Failing to comply can lead to problems.
Failing to achieve a return on investment
In some businesses the necessary research to develop or launch a product can take years. In the meantime, competitors could enter the market or people’s tastes or needs could change.
Watch Eryl Williams, Managing Director of Asbri Ltd talking about cash flow risks. This video is available in Welsh.
Cultural problems (resistance to change, unsupportive systems and processes, insufficient support from leadership and management)
Introducing changes in a business can be difficult. People can object to changes in their way of working or to other changes.