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MitigatingRiskandElevatingExcellenceHowStandardsDriveSuccessinSingaporeMore
and thaneverbusinesses today faceacomplex webofrisks fromeconomicdisruptions to technological vulnerabilitiesenvironmentalchallengesandsocietalupheavalsThisreality whichsociologistUlrichBeck termed therisksocietyunderscores thenormalisationofriskasaninherentaspectofmodernlifeBecksconcepthasonlygrownmorerelevantinthedecadessinceheintroduceditinthe1980sasthepursuitofeconomicprogressandtechnologicaldevelopmenthasmaderiskmanagementacriticalconcernforindustriesworldwideTheproliferationofrisks–fromglobalpandemicsandfinancialcrisestoextremeweathereventslinkedtoclimatechange–highlightstheneedforbusinesses toadoptstructuredapproaches tomitigatepotential threatsStandardsandcertificationssuchasISO9001 forqualitymanagementISO14001forenvironmentalmanagementOHSAS18001foroccupationalhealthandsafetyandmanyothersofferorganisationsaframeworkformanagingrisksandimprovingoperationalresilienceThese standardsnotonlyhelpbusinessesenhance safetyqualityandreliabilitybutalsoenable them togainacompetitiveedgeandmeet theexpectationsofcustomersandregulatorsalike
