Risk Awareness and Mitigation activities
can add up to a safer workplace as well
as positive brand recognition.
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Save resources such as time, assets, income, property and people
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Protect its reputation and public image
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Prevent or reduce legal liability and increase the stability of operations
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Enhance its ability to prepare for circumstances that could interrupt business
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Reduce liabilities
An organization with an effective
risk management plan in place
can also:
CONSEQUENCES OF IGNORING BUSINESS RISK MANAGEMENT:
· LAWSUITS
· CATASTROPHIC LOSSES
· FAILURE TO THRIVE
· UNCERTAIN FUTURE FOR ALL STAKE HOLDERS
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The Risk Management process is essential because it equips a company with the tools it needs to identify and manage possible risks.
When danger is recognized, an effective risk management process can minimize negative impacts
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Identifying and managing risks is imperative to prepare for events that impede progress and growth.
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A company’s chances of success increase when it assesses its strategy for dealing with possible challenges and then creates structures to meet them.
