Can a systematic risk approach sit well with entrepreneurial spirit?

RISK and the sea go hand in hand. That is why shipping led the way in developing sophisticated forms of insurance, against the perils of the sea.

Today though, risk management apparently means more than having the ships covered for loss and liability; a major shipping accountant has thus carried out an extensive survey to identify the "enterprise and business risks" faced by companies in this industry.

The new Moore Stephens Shipping Risk Survey sought to gauge how effectively enterprise and business risks are being managed in the industry, and to analyse how key risks are being handled.

In the survey, respondents rated the extent to which enterprise and business risk management is contributing to the success of their organisation at an average 6.9 out of a possible score of 10.0. Over a quarter…