Step 1: Understand your business

To manage risk in your business requires understanding how your business operates. This means understanding what the essential ingredients are that make your business operate smoothly and successfully.

Consider things like:

  • Suppliers or systems important for your business to work
  • Technical systems your business relies on
  • Important records or information that are essential for your business
  • Security systems that require knowledge of codes or passwords, or keys to access important property or equipment
  • Particular people or other businesses that you rely upon to survive
  • Legal or other obligations that you must comply with as part of your business practice

Using the above examples, compile a list of all the essential things that help your business operate.  This will assist you with Step 2 of the risk management process detailed on the Identifying risks page

Last Updated 24th July 2017