Globally there are three critical elements identified for successful risk management. These are:

1. 3 Critical
Elements
Identified for
Successful Risk
Management

2. Globally there are three critical elements identified for successful risk management.
These are:
 Strategic thinking
 Transparency
 Identification of risk factors

3. It is not enough to see the risk; you need to anticipate it and work on its prevention. This
means understanding your business and how risks may affect it in the future.
Strategic thinking

4. A key element of risk management is being able to communicate information about a
potential problem or issue with stakeholders. For example, if your company operates in a
market where there is a high likelihood of conflict, you need to be able to share that
information with investors and regulators as well as employees so they can prepare for
any eventuality.
Transparency

5. Risk management cannot be effective without first identifying all the potential risks that
could affect your business. This will allow you to take control before risks escalate and
threaten your business’s sustainability.
Identification of risk factors

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