Risk management, as a practice and set of principles, has been utilised since the 1940’s; 70 years after its introduction what has been accomplished?

History of Risk
Historically risk was the product of the insurance industry to assess financial risks of the businesses they insured. As a sustainable practice it is best to know if your insured will cause financial ruin for your or make a significant negative effect on your profits. Risk was seen as a negative influence on business and should be eliminated. Risk was the practice used by business owners and boards. Continue reading →