Risk is an inevitable part of the competitive and dynamic business environment. Every business/ entity must thus account for risk management in the life span of the business. Business risk management statement is the statement which defines the business’s philosophy about risk and everything about how the business plans to manage any risk that may pose problem in front of the business entity. A sample of the formal document i.e. business risk management statement is given below.
Sample Business Risk Management Statement:
Date: 25th April 2012
Company Name: Goliath & Goliath Finances Ltd.
About the Company:
The company has been operational in the finance sector of the American economy for the past 10 years. We have been able to run a success story with the help of a very dedicated and hard working employee base. We hope to serve as many clients/ individuals as possible and make finance easier for all alike.
Outlook of Risk:
We believe that risk is inevitable and to an extent, an essential catalyst which must be faced head on and not avoided. For it is in the times of turmoil that one shines the brightest.
Our management guidelines are the general principle statements which we believe will guide us through any risk situation and sustain our belief in our business organisation. They are as follows:
- Make a consolidated analysis statement for the whole situation, whenever any sort of risk starts to show the first signs.
- Included in the analysis should be every aspect of the particular project, plan or commodity that is under the risk.
- The analysis results should be studied by a team of analysts and they must in collaboration try to find suitable solutions.
- All the solutions must be considered before zeroing on any one.
- During the course, one must remember there is always a solution and hence to never give up until you find a plausible one.