Risk Management Electronic Magazine

Detecting risks before they occur is a determining factor when measuring the success of your business. Many companies today do not have a manual of rules and procedures for crisis management, in the event these occur. On the contrary, they assume the comfortable and naïve position that “this will not happen to me.”

The magazine analyzes the potential risks faced by the industries and creates awareness in the reader. Businesses cannot afford to react in a negative and isolated manner when faced with an abnormal situation. On the contrary, they should act in an orderly fashion and with their heads held very high. It is vital for companies to insure both their personnel and their infrastructure, to design contingency plans, and to assign more capital and personnel to this area.

The magazine is the spearhead to create a risk management culture.

From the very moment we decide to start a business, we should think about risks. That is why it is necessary to identify them in time in order to minimize their impact. We cannot allow risks to control us; rather, on the contrary, we must control them.

A company’s directors should not be carried away by panic, but rather should create a department dedicated to handling incidents, be alert, be aware, and collaborate to the extent possible, so that the crisis can be remedied satisfactorily. For that, they should adequately instruct the personnel in advance.

The magazine provides ways to carry out the steps mentioned above, effectively and as proved by firms who are in the same or similar entrepreneurial field.

The magazine helps the person in charge of risk management to monitor the guidelines clearly and to follow-up continuously on the work of all the persons involved. In order for a risk management plan to work, the information must be disseminated adequately and every person must be familiar with the responsibility tasks assigned to him or her for the preventive management of risks.

The magazine provides ideas, examples, and life experiences of risk managers that help the reader to learn proven methods and techniques for preventive risk management.

Prevention is the best way to go, but in the event of a crisis, it implies carrying out informative and communication strategies in order to prevent a conflict situation, offset the bad news generated, and place the company’s image in a positive setting. People usually act radically in a crisis situation when they should act strategically, rather than emotionally, in the best interests of the company.

We learn from our mistakes, therefore, many of the crises presented in the magazine offer actual experiences that may serve to learn how to be prepared and forewarned should they come up. Repeating once more, the idea is to prevent them from occurring.