A professional services company wants to globalize by offering services to businesses and governments in other countries. What are the risks in globalization of services and how should the company address those risks in order to move forward with their plan?
Follow the ERM holistic Approach .Below are the holistic approach key points
1. Identify risk/challenges
2. Assess risks
3. Select risk response
4. Monitor risk
5. Communicate and report risks
6. Align ERM process to goals and objectives.
Below are challenges that need follow the ERM holistic approach:
1. Physical distance and Employees requirement in new locations.
2. Local taxes and export fees.