Any threat to the achievement of business strategies and objectives is a business risk. While risk can be reduced through controls, it cannot be completely eliminated. However, with an effective risk assessment process in place, and controls that make economic sense in relation to risks, management can target acceptable ranges of exposure to loss. The assessment of risk is an integral and ongoing responsibility of management. Risk assessment is integral because management cannot establish objectives and simply assume that they will be achieved.
Risk is the mirror image of opportunity.
High-opportunity endeavors rarely come without risk. We utilize a risk framework that can be tailored to become an effective risk framework for a particular industry and enterprise. Strategic Risks - Risks that relate to doing the wrong things. Operating Risks - Risks that relate to doing the right things the wrong way. Financial Risks - Risks that relate to losing financial resources or incurring unacceptable liabilities.