Risk management is essential for longterm sustainability from "summary" of Financial Intelligence, Revised Edition by Karen Berman,Joe Knight
One of the key principles that businesses must understand to ensure their long-term sustainability is the importance of managing risks effectively. Risk management involves identifying potential threats to the organization and taking steps to mitigate or eliminate them before they can significantly impact the business.
Without proper risk management processes in place, organizations are vulnerable to a wide range of potential hazards that could jeopardize their financial health and operational stability. These risks can come in many forms, such as market fluctuations, regulatory changes, supply chain disruptions, or even natural disasters.
By proactively identifying and addressing these risks, b...
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