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Describe the two components of risk management.
a. Loss control
b. Minimize financial impact
1. Describe what leadership needs to do as part of risk management.
a. Must make it a point to emphasize safety compliance and lawful ethical behavior
b. Mush model the behaviors
c. Upfront investment
1. Describe how to prevent fire losses.
a. Trained employees
b. Have the right size number and type of fire extinguisher
c. Electrical system in date
d. Building fire resistant
e. Fire alarm system
f. Sprinkler systems
g. Smoke detectors
h. No smoking signs
i. Check heating system
How do you reduce risk of burglary
, i. Strong doors with appropriate locks
ii. Shatterproof windows
iii. Security fence
iv. exterior lighting
v. lock up valuables
vi. install security/ alarm system
How do you reduce risk of robbery
i. Training your people
ii. Work with your local police department
iii. Limit the amount of cash in your cash registers
iv. Exterior lighting
v. Install security / alarm system
How do you reduce risk of insider crime
i. Having good control procedures and perform frequent audits