They Will Take Their Chances – Did They Tell You Yet Your Chances, Risk and What Might It Cost You?
With all the recent catastrophes from Greece to Lehman Brothers to salmonella to BP, you would think everyone would see the value of effective enterprise risk management (ERM) programs to pass the fiscal quiz for their life and business. Yet many companies have no intention of adopting enterprise risk management, a survey finds, while many others have less than robust ERM processes. If you are starting to get concerned, Google the article by CFO Magazine titled They’ll Take Their Chances. You will find the survey very interesting and possibly very scary.
The Benefits of Risk Management
To be effective, risk management should be an integral part of everyday business management. A regular and robust process should identify and manage acceptable levels of risk before they turn into disasters. Without a robust procedure for identifying and dealing with risk, the information, reputation and finances of a business are all in danger.
