Risk Management

In every successful business, the investors must lay down the rules and the objectives of the business. Some important factors like security policies and security countermeasures must be taken into consideration. In every business, there appears to be some risk, the major point to consider as to whether the business survives or perishes appear to be risk management. The investors must therefore find convenient ways of dealing with risks arising in their business.

Risk management therefore can be explained as identifying and analyzing uncertainty in the investments. You determine whether the investments have risks and then finding ways of dealing with those risks in such a way that is perceived to be best for the objectives of the investments. Security policies appear to be documents of how different companies will give protection to their information technology and physical assets. This document appears to be in continuous change as technology becomes updated and employee needs keep changing. Security countermeasure appears to be a technique or a device that a company uses to detect emerging risks or threats and reports it to the necessary authority so that it can eliminate or prevent the risk or the threat from interfering with the company or business (Michael Frenkel, 2005).

These three factors in businesses have a relationship. It appears that for a business to be deemed as successful, it must have all the three. If a business appears to be faced with a risk, then security countermeasures will determine the existence of the risk and if indeed the risk exists, then the security policies set by the company would be used to counter the risk. The company uses its security policy to manage the security practices and reduce the risk of security threats. It appears that these three factors must work together.

There are some common emerging security issues like fraud or transactional integrity. Some security issues arise from the employees while others arises from the IT technologies in the business. At times some employees tend to give confidential information about the company to another company for personal gains or at times, the computers may appear to be hacked, it is therefore the responsibility of the management to set the rules and lay down the measures on how to deal with these constant security issues.

In every business, there will always be risks emerging each and every day. For the success of the business, there should be security policies and security countermeasures for risk management (Jones & Bartlett Learning, 2011).

References

Michael Frenkel, G. D. (2005). Risk Management: Challenge and Opportunity. Springer.

Jones & Bartlett Learning, L. R. (2011). Security Policies and Implementation Issues. Jones & Bartlett Publishers.