TARGETING BUSINESS RISK AND INSURANCE ATTRIBUTES

Abstract

There is growing awareness of organizations as to their ability to continue, whatever the severity of business interruption. The practical application of the targeting business risk is of particular relevance for this ability. One, which finds itself in a state of perpetual crisis, is failing to manage risks properly. Failure to manage risks is characterized by inability to decide what to do, when to do it, and whether enough has been done. Understanding business risk requires three criteria: a through understanding of the business process, an active imaginations and tools to generate ideas about possible effects of risks and a framework or risk model and a common language to discuss risk.