Page 130 - Risk Management for Outdoor Programs

BUSINESS ADMINISTRATION CHAPTER 12 LEARNING OBJECTIVES 1. Geographical variation in business risks 2. Compliance with laws and regulations as general risk management approach 3. Workplace health and safety risks 4. Physical plant risks 5. Protection, privacy and secure storage of data and information 6. Compliance with corporate registration and similar requirements and restrictions 7. Financial management and controls 8. Seeking legal advice 9. Discouraging fraud, theft and compromise of physical items and intellectual property 10. Human resources considerations 11. Risks in marketing communications 12. Strategic, long-term risks 13. Addressing structural risk in the outdoor industry 14. Administrative risk treatments 15. Sources of additional information 120 12.1. INTRODUCTION The domains of risk covered in preceding chapters have focused on risks generally closely and directly associated with outdoor programming. Here we turn to risks that similarly affect the wellbeing of outdoor programs and their participants, but are also shared by most businesses in any industry. We will cover both immediate risks associated with business administration and also more distant or long- term strategic risks. Management of business administration risks is not the focus of this book. Therefore, these issues are treated in summary format only. Sources of additional information are provided at the end of the chapter. 12.2. IMMEDIATEBUSINESS ADMINISTRATION RISKS What counts as a risk in the business administration context, and how it should be managed, varies widely by jurisdiction. Nations and their subdivisions may all have different expectations. The enumeration below is a list of potential example risk areas to consider, and is neither definitive nor exhaustive. Risks considered to be administrative in nature are also found in other chapters. Insurance is covered in Chapter 13, Risk Transfer, for example; safety culture, a risk domain whose management is overseen by executive managers, is addressed in Chapter 5, Culture. Many administrative risks are treated in the same manner as are outdoor risks. The core process remains the same: identifying and implementing policies, procedures and systems to manage risks to acceptable levels. One good place to begin with addressing risks of an administrative nature is to identify and comply with all applicable laws and regulations. Established best practices exist for some areas that may not be covered by regulation, such as intellectual property protection. Section 2: Risk Domains