why is risk management important in business 
businesses face a great deal of uncertainty in their operations much of it outside their control this uncertainty creates risk that can jeopardize a company s short term profits and long term existence because risk is unavoidable risk management is an important part of running a business when a business has a thorough and carefully created risk management plan in place and when it is able to iterate on that plan to deal with new and unexpected risks the business is more likely to survive the impact of both internal and external risk 