“Small but frequent losses can harm a firm”. This statement is applicable in risk management wherein small but frequent losses can affect financial performance. On the other hand “Do not burn a forest because you want to kill a bee” is also applicable in risk
“You cannot skip a meal due to another man’s problems”, this popular Shona saying literally translated into English does not apply to business. Businesses do not operate in a vacuum thus the problems affecting other stakeholders can have a negative impact on your business. In
Come to think of it! What could strike your business and cause negative impact to your business objectives? It can be floods, catastrophic fire, system crushes, fraud, lawsuits, riots, war, it can be anything. This list appears endless. Risk identification requires you to ‘momentarily step
In the last article we defined risk management as a process of identifying all possible risks that may negatively affect business objectives, analysing them and putting in place measures to reduce their frequency of occurrence and/or their financial impact. Companies adopt different approaches to risk
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