Defining Risk Management
Risk management to a financial planner has different meaning than to a manufacturing operations manager, yet in essence it refers to managing factors that interfere with achievement of business targets. Your small-business risk management program may incorporate several disciplines, such as financial risk, liability management or health and safety initiatives, all of which may intertwine. The needs of your business define the scope of your program. There is no one-size-fits-all risk-management plan.
Financial Considerations