“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
“Do not waste all your arrows on little sparrows”, this statement is applicable in risk management. The level of resources (time and money) that a firm should allocate to risk management should be commensurate with the risk. In our last article, we highlighted that firms
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
Life’s tragedy – Simon’s Story: I grew up in a small town of Marondera. My father was a bus driver and my mother was a house wife. Life was just good and smooth. I remember the good days of trips to the capital city, sitting
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