When I think about it, I realize that risk management translates into opportunity. How, its simple, the opportunity of risk stems from how open minded the organization is about identifying, acknowledging, and accepting that there is risk inherent to their industry, as well as risk inherent to how they manage the organization, including the existence or inexistence of risk culture.
When you accept that risk exists, you are able to take steps to treat it. When you have taken steps to recognize, accept, assess and treat risk, you create an advantage of dexterity and transactional velocity.You are more prepared for what comes, have a more refined, and sensible risk appetite. Your ability to manage risk, and continually improve in this aspect will show a direct correlation to success.
It's like the Company that has an exemplary safety program, with a .65 experience mod, and the ability to safely assume more workers compensation risk at a far lower cost than the competition - guess what - you'll get more business, because your clients want a safe contractor, and not only that, you'll be way more profitable because of how you manage risk. So talk about positive risk, and negative risk - the bottom line is how you treat and exploit that risk, its about the actions you take, otherwise, its just a risk register.
