XML RSS
What is this?
Add to My Yahoo!
Add to My MSN
Add to Google

Home
Family Biz Blog
E-zine
About Us
ASK THE EXPERT
FamBiz Consulting
Testimonials
Family Biz Profiles
Chaos Busters
Succession Mgmt.
Succession Survey
Estate Planning
Business Valuation
Foundations
General Aviation
Family Feuds
Divorce Strategy
Advisory Board
Mission Statements
Business Plans
SWOT Analysis
Change Mgmt.
Innovation
Family eBusiness
Local Business
Self Help
Project Mgmt.
ISO 14000 EMS
Risk Management
Family Trivia Game
Human Resources
HR Forms
Free HR Forms
Outsource Payroll
Private Investigator
Communication
4 Ps of Marketing
Financing A Biz
Financial Mgmt
Business Broker
Parent Adult Kids
Corp Governance
Family Biz Retreats
Family Biz Articles
Recommendations
Telephone Consult
Contact Us/ Privacy
Site Map

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.

The most extreme form 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





Family Business Experts Understands
Family Values and Business Systems

Protect your family business... contact our experts for loss control help.



Please stay in touch and subscribe to our
Understanding Family Business e-zine.


Return from Loss Control to
Risk Management


footer for loss control page