Loss Control

LOSS CONTROL
Reduce Losses Through Prevention
avoid... reduce... minimize

"Loss control is all about reducing the frequency and/or severity of losses through preventive measures," according to top family business expert Don Schwerzler. Schwerzler has been studying and advising family business entrepreneurs for more than 40 years and is the founder of atlanta-based Family Business Institute.

The most obvious form of loss control is to avoid activities that are hazardous.

• A toy store no longer carries a car seat since it was likely to injure infants
• A dry-cleaner changes the cleaning process to utilize a different chemical after the EPA bans the former chemical as hazardous

Next, look for ways to reduce risks if they can't be avoided.

• A heavy equipment dealer can obtain cheaper land for the new repair shop and sales / office building a bit further from his city, but that area is subject to brush fires. Instead, they locate closer in on suburban land, near a fire station. Risk management has reduced risk, but not eliminated it completely.

Loss control further looks for ways to minimize risks. What else can our heavy equipment dealer do with the new facility?

• build with fire-resistant construction and materials to reduce the chance of fire spreading
• install smoke detectors, fire alarms and automatic extinguishing systems throughout the building to further reduce the severity and spread of fire.
• train all staff and develop procedures beyond minimum requirements in the proper handling and use of fuels, lubricants, welding supplies, solvents, etc. to minimize combustion, spillage and disposal risks

Do you have questions about your Family Business? Don't have the answers - don't know who to ask? It's FREE to ASK THE EXPERT Contact the FAMILY BUSINESS HELP DESK Reply within 48 hours. https://www.family-business-experts.com/cms-form.html

---

Chaos Busters - The Management Guide Identifies 160 Key Business Questions 160 Key Business Questions will stimulate creativity and innovation for your entire management team! 160 Key Business Questions are the keys to unlock the hidden potential of your organization! 160 Key Business Questions will save you time and make your work more effective! 160 Key Business Questions is a Multi-purpose tool with unlimited applications! https://www.family-business-experts.com/chaos-busters.html

How Well Organized is YOUR Organization? Your Business Will Succeed... If... You have The Roadmap for Success That's What The Practitioner's Guide for Organizing an Organization Is All About PGOO shows how to identify the most pressing problems to solve PGOO introduces the ODS-OL (Organizational Diagnostic Survey –Online) - an electronic assessment tool that is highly effective, easy to use, systematic and data-based PGOO explains how to produce a better-organized organization https://www.family-business-experts.com/PGOO.html

Family Business Experts Understands
Family Values and Business Systems

Protect your family business...

Return from Loss Control to
Risk Management