Culture, Compliance and Risk Management are strongly interrelated. Risk management follows compliance and both are enveloped by culture and created by the quality of governance. Today, leaders need to put time and energy into risk management. To create a culture that combines healthy risk taking with effective risk management, the leaders need to set a risk-management system in place, promote and reward the right practices.
This report describes how much risk management is important to identify potential problems before they occur so that risk handling activities may be planned and help in mitigating any adverse impacts on achieving objectives. It also describes the principles and methodologies and guidelines of risk management.
This report is based on a survey and the key findings have been highlighted here. The survey reveals that OHS risks impact the overall business. If an organization fails to address OHS risks, it leads to even business loss, loss of brand image and litigation issue.
It was unveiled at the CII Eastern Region Safety Symposium & Exposition 2019 held from 7-8 August 2019 at Kolkata.