1. Risky Business

2. Avoid
Avoid risk by training for it in advance. Discuss risky situations and how they should be handled with your employees.
Example – On the job safety training

3. Retain
Some risk is impossible to avoid and companies must accept this. Some risk will be factored into their bottom line.
Example – Occasional damaged goods through shipping.

4. Shift
Shift the responsibility of risk to somebody else and let them deal with it.
Example – Buying insurance for your business.

5. Reduce
Reduce risk by monitoring your work environment and by taking precautions when something occurs.
Example – Put “wet floor” signs out when a spill occurs. Close off aisles while restocking inventory.