A Business Owner’s Guide to Risk Management

At its core, risk management is the systematic approach to identifying, assessing, mitigating, and financing risks that could negatively impact your business. Risk management should be proactive, not reactive, with policies and strategies ironed out long before a loss occurs. Importantly, it should be understood as a continuous process that evolves alongside your business.

Five Practical Steps To Approaching Risk Management

Risk management often gets reduced to the simple task of buying insurance. But as Lee Burke, President of Burke, Bogart & Brownell, emphasizes, true risk management is a much more comprehensive, overarching process. While textbooks describe risk management through abstract models, Burke prefers a more intuitive, hands-on framework distilled into five strategies every