How can an organisation minimise financial risk?
There is always a difficulty when it comes to managing the equation between risk and reward. In the current environment, organisations are encouraged to be innovative and therefore often face a range of threats. Risk is not a dirty word. It is often considered as negative when in fact, risk can equal both positive and negative outcomes. Try replacing the idea of risk with areas of uncertainty during the planning process. Sounds a bit more inspiring Organisations need to identify and evaluate potential risks/areas of uncertainty, ensuring that tested policies and procedures are in place to effectively manage them. Unexpected things can and will happen but if flexible structures and controls are in place, risks can be minimised.
