Risk assessment and control

Abstract

“No pains! No gains!” No enterprise can run without some risk exposure. The outcome of risk exposure may be negative or occasionally positive. Losses from a negative outcome may be mild and acceptable or huge and unacceptable, leading to closure and serious effects on society and the nation. Good risk management with identification, assessment and control of risks faced is part of good management. Planning against risk at enterprise/company, national and international levels are required. Some such exposures may do no harm, but present new business opportunities. The present study involves an extensive review of available literature on risk management. A reputed textile company has been selected for case-study of performance in terms of risk management.