Risk, according to one dictionary definition, is
“The possibility of suffering harm or loss”.
Failing to manage risk hits the bottom
line; contrary to widely held opinion there is no conflict between managing
safety and quality and maintaining profitability. Relying on regulation, supervision
and box ticking is extremely expensive and is not wholly effective; it is the
decisions that people take “at the coal face” that affect results, and
corporate culture and management behaviours influence those decisions. As Aristotle
succinctly observed in 300BC,
“We are what we repeatedly do. Excellence, then, is
not an act, but a habit”