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Risk Management – Some Practical Ideas on The best way to Minimise Risk in a Enterprise

Risk is a given in any business and it can be damaging to a enterprise and even threatens its survival. It is subsequently essential to be aware of the assorted risks, to understand its potential impact on a enterprise and to know how one can handle it effectively. This article provides some practical guidelines on the right way to minimise risk. The discussion is completed under the next headings: Planning; Relationships; Hedging; Discipline. Planning Element planning goes a long way in reducing risk. Planning should embody the following: Feasibility studies. It is important to confirm the viability of a new… Read More