Risk management relates to the identification, assessment and prioritization of risks in order to develop and implement a risk mitigation strategy. Risk management is a process which gives assurance that ensures risk exposures in an organisation are properly managed to enable an organization meet its goals and objectives. An organisation is faced on daily basis with challenges/risks which create plenty of opportunities for you to exploit for your success. Playing with lions is risky but one may tame lions and use them to make money. The capacity to identify and exploit opportunities resulting from risk management is what makes one succeed or fail in business. Fire is dangerous but there are those who earn their living through fire fighting. The results you earn in life will depend on your capacity to management risk and challenges better than others.
In life you can never eliminate risks or reduce risks to zero level otherwise you create a situation where there are no opportunities to exploit for better returns. A risk free environment if at all it exists gives little return on the investment. Part of the return on investment is a reward for risks taken in making an investment in a give environment.
Do not give up
When in life you are faced with risks and challenges, never give up. Continue fighting with all your determination until you overcome the challenge.
John Muhaise Bikalemesa
Director: Big Drum Advisory Services Limited