Definition of "Identification"

Preston  Murphy & Diane Harmon real estate agent
Preston Murphy & Diane Harmon Keller Williams Realty

First step in the risk management process. The objective is to determine the sources of losses. For example, the profit and loss statement of a business firm not only shows the sources of its earnings but identifies exposures that these sources face from various perils, such as worker injuries, ill-designed products, and hazardous manufacturing conditions.

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