Risk management in industrial companies

Abstract

Nowadays business world is constantly changing. It is unpredictable, volatile and fraught with risk. Risk assessment provides a mechanism for identifying which risks represent opportunities and which represent potential pitfalls. Done right, a risk assessment gives industrial companies a clear view of variables to which they may be exposed, whether internal or external, retrospective or forward-looking, qualitative or quantitative. A good risk management takes a broad perspective on identifying the risks that could cause a company to fail to meet its strategies and objectives. In this statement several techniques for identifying and analyzing company risks are discussed and illustrated.