meaning of "to lose one's grip"

[Foka]

English Language Tests, Intermediate level

ESL/EFL Test #61 "Losing It (1)", question 4

The important key to success in this business is strong management because if you lose your ........., then you're in real trouble.

(a) hold
(b) stay
(c) grab
(d) grip

English Language Tests, Intermediate level

ESL/EFL Test #61 "Losing It (1)", answer 4

The important key to success in this business is strong management because if you lose your grip, then you're in real trouble.

Correct answer: (d) grip

Your answer was: correct
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please explain to me "to lose one's grip"

thank you
Foka

[Alan]

This means that you lose your firm control of the situation.

A
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English as a Second Language
You can read my ESL story A day in the life of a stately home owner