Business Risk Management
Risk management has always been an important tool in running any business, particularly when a market experiences a downturn. In any economic environment, an unexpected surprise can destroy your business in one fell swoop if you didn’t have the right risk management strategies in place to prevent, or at least mitigate, the damage from that risk.
External risks are out of your control. These include, but are not limited to, interest rates, exchange rates, politics, and weather. Internal risks are in your control and include information breaches, noncompliance, lack of insurance, growing too fast, and many more.
Internal have a different story, they can be managed through designing effective strategies.
