Running a successful business does not come easily. Business survival and continuity require good planning and management for the unexpected. Your business is at risk to the constant pressures of the marketplace and a range of hazards outside your control.
Making decisions that will minimize the adverse effects of accidental business losses on an organization involves five steps: identifying and analyzing exposures to loss, examining feasible alternative risk management techniques to handle exposures, selecting the most appropriate risk management techniques to handle exposures, implementing the chosen techniques, and monitoring the results.
The role of risk management continues to develop and expand, embracing complex, demanding and at times unexpected. Implementing these decisions require performing the four functions of the management process: DISCOVER, DESIGN, IMPLEMENT, and CONTINUITY.