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.
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: