How to Prepare for Risk

How to Prepare for Risk

By: Keri Venkatesan and Josh LaSov

By definition, risk involves uncertainty. But it is possible for an association to indentify its main risks and plan reasonable responses. Here are three steps association leaders can take to establish a risk-management process.

The current economic environment is full of uncertainties, which is why it's important to implement and follow a regimented risk-management program. To make the most beneficial decisions, leaders need reliable, up-to-date data and best practices, and they must learn from those who have succeeded and failed ahead of them. Companies that move first to ensure a risk-management practice is thoroughly implemented will solidify their market position when the global economy recovers. Here's how to get that program in place....