What is risk management?

By taking the effort to identify and manage risk an organisation is adding depth to its management techniques.  The founder of a new business takes the initial risk that they have created a sound proposition that will yield the required outcomes.  The owners of a mature business, irrespective of size, need to be aware of threats to the business and determine a way to manage identified risk exposure.

Risk management is not just about keeping workers and visitors safe from harm, although that is an essential part of the risk management framework, it is also about identifying internal and external threats to a business, implementing necessary controls, anticipating future events that may impact on a business.  In anticipating risk from future events positive risks may also be identified; good risk management will see the way that these positive risks could bring potential to the business.

Are you aware of the areas of risk exposure in your organisation?  Contact us for an initial chat www.complianceessentials.com.au

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