Hospitality Industry Management Update: “Getting Serious About Risk Management”

“To be successful, an organization must do a good job of communicating the importance of risk management, which should raise awareness and provide how-to information to employees.Employers must understand that educationrisk-management needs to occur in order to drive continual improvement and adoption of a risk management mindset. This communication should bleed through all levels of the organization in a consistently open and honest manner.”

Success in today’s complex business environment is greatly dependent upon workforce productivity. Creating a proper work environment—one that is safe and secure for employees, customers and data—is vitally important. It means minimizing downside risk and creating a risk management culture.

There has been an invigorated focus on enterprise risk management, the analysis of a broad spectrum of loss exposures that businesses often face. Executives need to be concerned about reputational damage, falling stock prices, shifts in customer appetites for products or services, and even currency fluctuations. In addition, businesses may be impacted by traditional insurance exposures. Some dramatic examples in recent years include:

  • Hurricane damage from Superstorm Sandy and other severe weather events.
  • The Ebola crisis that left a Dallas hospital reeling.
  • Recent cyberattacks on SONY Pictures, Home Depot, Anthem Inc., Target Corp. and the federal government.

For more: http://bit.ly/1DDRJ8w

Leave a comment

Filed under Employee Practices, Hotel Employees, Hotel Industry, Management And Ownership, Risk Management, Training

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s