Risk is unavoidable. All businesses, whatever their size, are constantly faced with risks, large and small. Indeed, businesses can only prosper by successful risk taking.
The objective for any business must therefore be to strike the correct balance between risk and potential reward. The aim is to manage risk appropriately, not to eliminate it.
The best way to do this is to make risk management part of the business culture. Everyone within the organisation has a part to play.
By using a few simple techniques, all departments can identify the risks to their part of the operation and put in place countermeasures to reduce the impact of the most serious.
Risk assessment is not just the domain of the professional risk manager or business continuity manager. It is an important management tool that can be used at all levels within the organisation.
In the battle against risk, doesn’t it make sense to have a whole army on your side?