Question

How much energy, resources, and effort should a business invest in loss prevention? Pick your percentage and argue why... (there is no perfect industry standard as it varies by establishment and the nature of the business)

Answer 1

Actually i think every business must invest at least enough energy,resources and effort so that the business must be able to easily recover from that particular loss. Every business has its own circumstances and situations therefore we cannot decide the exact amount of energy, resources and efforts that every business must invest.Thus I can say that every business must have proper knowledge of their own business so that they must be able to survive in a proper manner if they have to face any type of loss.Thus there is no perfect percentage about such an investment.It entirely depends on how the nature of business is and how critical the situation is. There cannot be any exact measurement about this.But the business must make it sure that the functioning of the business organisations should not get affected in a negative manner by such a loss.For this the business management can conduct meetings in which various opinions can be taken by the various individuals attending the meeting and the accurate solution can be found out about how to make perfect decisions regarding this matter and help business make proper investment in energy and various resources.