From Joseph Inokotong, Abuja
As entrepreneurs contend daily with the task of taking business decisions and the associated risks, experts have said that the issue is not whether to take risk but how to do so reasonably, especially for those in business.
They argued that risk is everywhere, and avoiding it often leads to another; citing as an example that “eliminating nuclear power would actually prevent related radio-active accidents”, while “burning more fossil fuel would increase acid rain and the greenhouse-effect on climate”.
The Chartered Institute of Loan & Risk Management of Nigeria, which stated this further added that “for people in business the issue is not whether to take risk but how to take reasonable risks. Business risks have broad impacts that affect customers, employees, shareholders, suppliers and the general public.
“In the same vein, decision makers in government have to face risks as regards managing a peaceful nation, the law and its use, the economy, national security, social ills, disease control and international relations”.
In a statement issued by Lere-Adams, Director Press in Abuja yesterday, she pointed out that the Annual Conference of the Risk Professionals for this year, which holds this week “promises to be an interaction that will set a new standard for the genre as real life and real time discussions are set to happen”.
According to Lere-Adams, “the conference will present opportunities to be informed and educated on internal risk management strategies, for networking, mitigating risks especially in electioneering and corporate sustainability, focus on specific areas for various players in government and industry (bringing in the new player interaction module for risk management)”.