Introduction
Large and small businesses in all industries face particular risk, which is either perceived or unknown. The risk can occur at any time during the firm operation cycle and lead to the collapse of the particular business. Importantly, the management of various companies includes risk management as part of their strategic plan. Known risks are easy to manage than unforeseen circumstances. Regardless of the risk, every management is keen to implement proper ways to ensure the business doesn’t suffer negatively. Some companies choose to avoid the risk while others control the loss. In some instances, a company may ...