Every new year brings new challenges surrounding risk management. Learn how to protect your company and its assets with these tips from an industry insider.
Image: iStock/LeoWolfert
While a new year doesn’t necessarily bring new threats precisely at the stroke of midnight on Jan. 1, risk management is a year-round endeavor to which all businesses should devote resources. Risk management involves assessing potential threats to your business and implementing measures to block them in advance and remediate them if they cause impact.
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Steve Cloutman of risk management provider Ventiv wrote a blog post earlier this month outlining 5 Risk Management Trends & Priorities for 2021, which he listed in order:
- Mitigating the long-term effects of COVID-19 on the supply chain
- Build protection and resilience
- Innovate to reduce insurance costs
- Use good data to manage risk appetite
- Use data science to reduce…
