Why risk management is vital

It’s 2010. Likely your first day back at the office. Maybe your CFO or VP walked by your desk this morning with your marching or orders for this year and it went something like this: “Smithers, I am hearing a lot about this enterprise risk management. Get us some, okay?”

Maybe you’ve started a Google search and happened across this blog. Well good for you. This is an excellent place to start. Another good place to start is having a read at this article below from Business Daily Africa titled “Why Risk Management is Vital” where the author reminds us “risk management can no longer be relegated to auxiliary status.”

He writes:

A brand new year is here with us again and companies and other institutions will unveil their strategic resolutions for the year. As companies strategise and set to scale the year ahead, it is critical we give a serious thought about risk management. Most businesses desperately need a paradigm shift. Why is risk management important? While many people continue to argue that risk management is good practice, the inescapable fact is that the market so demands it.

To read the rest, click here.

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