We manage risk in our personal lives from issuing car insurance to dental cleaning, in hopes to reduce the consequences of potential unwelcome events. No one wants car accidents or dental problems, right?
Yet what we often fail to do is identify and manage risk in a business environment, similarly as we recognize risk in our private lives. More often than not, companies do not investigate everything that could impact their business, but rather, look only at the obvious areas of risk. They need to engage in proper risk management.