Archive for January, 2009

Any business enterprise is faced with several risk possibilities. To sustain its business viability or success, an enterprise should eliminate or minimize business risks, such as fire, natural calamities, pilfering, robbery, strikes, accidents and so forth.

In rich countries, most enterprises insure their products and properties against the risks of doing business in the form of damage, theft, injury and other. Likewise, individuals insure their families, properties and themselves. Entrepreneurs adopt risk management programs to eliminate or reduce risks. Risk is the possibility that a loss or injury will take place. In a modem world, risk are all around us. For instance, car accident destruction of properties by flood or fire, or physical injury or even death. In business there is always risk, such as wrong business decisions, poor management or negative business environment.