Which steps should be taken for reduction of risk?

Business means risk.Every business has risk as compulsory.You cann't get rid from it but minimize.You can reduct risk by following some steps,which is discribed below:-

1.Handouering risk by insurance:By insurance,you can get pension he loss.Insurance company distribute risk.So,it can be a better way for risk reduction.

2.Complementary planning:It is a very effective way to reduct risk.Here some similar plan are taken and if anyone did not work then other will play roll as same.By this,risk can be minimized easily.

3.Capital saving:Be strong in the sectons of capital saving.Capital is a basic asset of any business.For this,you should give preference business over person,give back capital money in proper time etc.

4.Take presenting steps:Take careful in proper time.You should to keep presenting tools for hongegate accident.Such as-Fire accident,collapse of building etc.It is most effective step.

5.Keep warm relation with laboures and staffs:If you have a good relation with your laboures and staffs them your risk will be reduced normally.If the have good manner from you then they work in your task thinking as their own.So,you must have good relation with them.If haven't,then you maybe faced with strike which is a large risk.

Risks never zero but minimum.You should try to best by following this keep the risk in zero.Best of luck!