Risk Management as we think of it in organisations today is still a relatively new development. We shouldn't forget however that risk management activities have been around as long as mankind itself. The very pressing requirement for survival dictated that our earliest ancestors became proficient risk managers in order to feed themselves, provide shelter and avoid the many hazards of the era.
As time progressed, mankind adopted and learnt better techniques for mitigating risks, such as:
banding together to defend against attacks
saving assets, resources, and eventually money for a later need
implementing laws to govern acceptable behaviours
Further developments for mitigating risk followed - insurance emerged as an early form of transferring risk as well as the concept of joint ventures where risk could be shared. The evolution continued - the modern company structure is a sharing of risk among shareholders and ultimately a limiting of losses.
Now, as it has been for an eternity, old risks disappear and new ones arise - think cyber risk, environmental, discrimination, privacy and corporate governance to name a few. However, there is not much risk of getting eaten by a dinosaur anymore!
For a discussion on how we can assist with your risk challenges please contact us.