Enterprise Risk Management Adds Value

Enterprise Risk Management Adds Value


Enterprise Risk Management is not only for organisations such as large public listed corporations where it is mandatory. Successful small and medium size organisations rely on good organisation and understanding of the environment in which they operate. Listed below are some reasons why risk management and business continuity makes business sense for all!

Enterprise Risk Management Purpose and Why It Makes Sense

- Get an understanding of the risks, in particularly the top risks, facing the business and potential threats;
- Be prepared for potential events;
- Succession planning for key personnel;
- Clear understanding of the organisations risk capacity and risk appetite;
- Identify insurable risks and seek to transfer insurable risks which are not within risk appetite;
- Know what to do, have a plan and budget, to keep the business running in the event of a crisis such as a temporary or prolonged systems failure.

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