Any company wants to seize the opportunities presenting themselves on their respective markets. However, there are no opportunities without risks! Risks cannot be avoided and are in general not something negative. Opportunities and risks just have to be well-balanced against each other, and risks threatening the very existence of a company have to be identified early and eliminated. For this reason there is the need for a systematic process in order to identify and evaluated risks as soon as possible. Also in order to limit the liability of managing directors and to obtain loan capital a well-established risk management process is an important precondition.
Such a risk management is not that easy for the owners of SMEs and for many the subject matter is quite new, even though it is quite often exactly SMEs having to bear particularly big risks. Dr. Jürgen Kaack, who is an economic adviser and managing director of the STZ-Consulting Group has once again written an practice-orientated document for the visitors of the MittelstandsBlog which on 30 pages concisely explains the basics of risk management. The »Introduction to risk management« document contains question lists, tables and illustrations facilitating the understanding of the subject matter and is available free of charge for download (in PDF format, approx. 0.9 MB). 