In keeping with the paradigm shift on approach to disaster management recently brought about by the National Emergency Management Agency (NEMA) coupled with the recurring phenomenon of natural disasters impacting all sectors of socio-economic life, including the corporate sector, and inflicting heavy economic losses, focused attention is being given to risk mitigation endeavours to systematically reduce the vulnerabilities.
The new approach stems from the premise that development in any sector, more so in the corporate world, cannot be sustainable and viable unless risk reduction and mitigation measures are built into the development processes and that investments in mitigation are much more cost-effective than expenditure on relief, rehabilitation and reconstruction.
...