Reduction of Loss Essay

2137 WordsAug 10, 20129 Pages
Executive Summary This report aims to explain the importance of managing and reducing loss to the company through proper imbedding of principles of loss and risk management. Particular reference is made to physical security of premises and goods, and differing types of security and the methods and mechanisms by which they can be applied are discussed, areas covered include * Risk Assessment * Situational Crime Prevention (SCP) * Physical Security * Target Hardening * Crime Prevention Through Environmental Design The importance of appropriate appraisal of risks to the business is examined and how physical security may be used as one of varying control measures introduced to reduce loss to the company. It is important that a financing strategy is adopted and developed by the company in relation to security of the premises. The proper financing of security measures are explained and a description of the pit falls and benefits which can be accrued by the company by proper and appropriate assessment and input of resources into proper security measures provided. . Recommendations are produced at the end of the report which provide guidance and methods of control which will aid the company in putting in place measures which will lead to good practices in the management of loss reduction and risk management. Introduction Loss management control within an organisation is a major factor in continued and successful running of a business. The lack of attention to dealing with issues which may lead to losses can have a number of detrimental effects on the company and its finances. By assessing and dealing with the varying issues which may prove to be a threat to the company, we can continue to ensure its safe running and continued success. This report looks at the varying methods by which we can prevent loss to the organisation through the

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