Page 134 - Risk Management for Outdoor Programs

124 Chapter Summary 1. All businesses, regardless of type, face certain business administration risks. 2. The nature of administrative risks varies widely by jurisdiction. 3. Compliance with laws and regulations can address many administrative risks. 4. Administrative risk areas include: a. Workplace health and safety, such as hazardous items and signage b. Physical facilities issues, such as code compliance and zoning c. Protection of data and information, including personal information and intellectual property d. Storage and retention of documents e. Corporate registration and related requirements f. Financial management and controls g. Legal documents h. Illegal activity such as fraud, theft and counterfeiting i. Human resources concerns such as discrimination and conflict of interest j. Making inappropriate promises in marketing materials 5. Managing strategic, long-term risks such as climate change and social change requires thoughtful planning. 6. Structural risks in the outdoor industry include low rates of pay and other investments. 7. Administrative risk management approaches can include research, acting in the best interests of stakeholders, staying up to date on requirements, and good documentation. 8. Further resources are widely available. Section 2: Risk Domains