This section of our knowledge base covers everything you need to know about risks and how risks are managed in StartRisk.
What is a Risk?
A risk is any event or condition that could potentially cause problems or have a negative impact on your business. It’s like a possible bump in the road that could disrupt your smooth journey. Risks can come from various sources, such as financial uncertainties, legal liabilities, strategic management errors, accidents, and natural disasters.
Why is understanding Risks important?
Understanding risks is crucial because it helps you identify potential problems before they happen. Think of it like looking out for potholes on a road trip. By knowing where the bumps might be, you can plan your route better and avoid surprises that could derail your journey. In business, this means being aware of what could go wrong and taking steps to either prevent those issues or minimise their impact. It’s about staying ahead of the game and ensuring smoother operations.
The following articles cover key risk management related concepts:
The following articles cover off how to use StartRisk tools and features: