photo by: vladimir tatarevic

Risk Management

Risk management in business includes the methods and processes used by enterprises to manage risks and seize opportunities related to the achievement of their objectives.

Belox framework for risk management includes identification of particular events or circumstances relevant to the enterprise' objectives: risks and opportunities, assessment of these events in terms of likelihood and magnitude of impact, definition of a response strategy, and definition of a monitoring process.

By identifying and proactively addressing risks and opportunities, business enterprises protect and create value for their stakeholders, including owners, employees, customers and the overall society.

Failing to plan is planning to fail.

Attributed to Alan Lakein