Risk Management is a process of:
-Identifying
-Analyzing
-Mitigating
-Financing
-Monitoring/Adjusting your strategy
your organizational risks.
Sounds simple right? It does sound simple but is much more complicated than you may think. Risk Management begins with the cultural attitude of the executive management of an organization. Executive management sets the tone of a company and therefore, depending upon what they think and believe will guide the risk management practices of the firm. Each one of the steps are a process and there are many tools available for you to use in the process. For example, in the risk identification category, you might choose to look at and assess financial records, claim history, interview employees, use checklists, etc. By doing so, you will be able to discover specific opportunities for more effectively managing your risk and ultimately leading your organization to profitability. If you would like to learn more, contact me directly at Sandra@SKLRiskConsultantsLLC.com
