Risk management should be part of every company’s corporate culture, yet most organizations are exposed to business risks every day without formally addressing the potential impact upon their operation and profitability.
Two major categories of risk that are routinely overlooked are operational risk and human capital risk. For instance, what would be the impact on profitability if key business operations were disrupted by a poorly managed system conversion? Or if employees are not trained adequately for their jobs? Or a large competitor moves into your market?