One of the many phrases uttered in business-speak and mass communication areas is that of the ‘new normal’. By now, as a professional reader here and after thousands of visits to the internet and many meetings in the boardroom, you will have become more than familiar with the phrase. In fact, you may have been called upon to make the necessary adjustments as part of the ‘new normal’. One area of business management that surely by now needs little or no introduction is that of risk management.
The term and practice can refer to two areas. On the one hand, it can be making reference to how you administer your business, marketing, financially and otherwise. And on the other hand, and perhaps this is an area that could occupy many readers, risk management is imperative for all retail, wholesale, distribution, processing and manufacturing concerns. In fact, pretty much all businesses should be affected.
Risk management ensures that there are no fire hazards on the premises. it also encompasses good housekeeping practices. For instance, a daily sweep of the premises if you will after business is done for the day ensures that not only are the premises clean and presentable to the outside world, customers in particular, it is also devoid of hazards that could lead to accidents. A wet supermarket floor would be a good example.
More and more businesses today are finding out for themselves what it is to like and experience environmental risk management as its new normal. The call to action on many concerns’ agendas is that of carbon reduction. And many businesses that have long adhered to the fundamental principles of risk management are finding it quite rewarding to make the necessary adjustments.