Riskviews writes about the value of risk management

I want to send my Labour Day props out to the blog called “riskviews” and a great article on the value of risk management. I pasted the first paragraph, but click through to the site to read the rest of it. If you are looking for a bit more quant in your risk management reading, check out this blog as well.

Riskviews writes:

Businesses have three key needs.

First they need to have a product or service that people will buy. They need revenues.

Second they need to have the ability to provide that product or service at a cost less than what their customers will pay. They need profits.

Once they have revenues and profits, their business is a valuable asset. So third, they need to have a system to avoid losing that asset because of unforeseen adverse experience. They need risk management.

So Risk Management is the third most important need of a firm.


Click here to read the rest:

http://riskviews.wordpress.com/2009/08/26/erm-only-has-value-to-those-who-know-that-the-future-is-uncertain/

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