-Hazard risk
Liability torts, Property damage, Natural catastrophe
-Financial risk
Pricing risk, Asset risk, Currency risk, Liquidity risk
-Operational risk
Customer satisfaction, Product failure, Integrity, Reputational risk; Internal Poaching; Knowledge drain
Strategic risks
Competition, Social trend, Capital availability The risk management process involves:
1. Establishing Context: This includes an understanding of the current conditions in which the organization operates on an internal, external and risk management context.
2. Identifying Risks: This includes the documentation of the material threats to the organization‘s achievement of its objectives and the representation of areas that the organization may exploit for competitive advantage.
3. Analyzing/Quantifying Risks: This includes the calibration and, if possible, creation of probability distributions of outcomes for each material risk.
4. Integrating Risks: This includes the aggregation of all risk distributions, reflecting correlations and portfolio effects, and the formulation of the results in terms of impact on the organization‘s key performance metrics.
5. Assessing/Prioritizing Risks: This includes the determination of the contribution of each risk to the aggregate risk profile, and appropriate prioritization.
6. Treating/Exploiting Risks: This includes the development of strategies for controlling and exploiting the various risks.
7. Monitoring and Reviewing: This includes the continual measurement and monitoring of the risk environment and the performance of the risk management strategies.
Titany answered the question on October 26, 2021 at 09:41
- Other Aspects Relevant to the Collective and Individual Roles of Di-rectors of a board(Solved)
Other Aspects Relevant to the Collective and Individual Roles of Di-rectors of a board
Date posted: October 26, 2021. Answers (1)
- Composition, appointment and of the directors of a board in an organization(Solved)
Composition, appointment and of the directors of a board in an organization
Date posted: October 26, 2021. Answers (1)
- Internal and external corporate governance controls
(Solved)
Internal and external corporate governance controls
Date posted: October 26, 2021. Answers (1)
- The roles of the Chairman of the board in an organization(Solved)
The roles of the Chairman of the board in an organization
Date posted: October 26, 2021. Answers (1)
- Role and Functions of the Board in an organization(Solved)
Role and Functions of the Board in an organization
Date posted: October 26, 2021. Answers (1)
- Outline the principle of quality management in an organization(Solved)
Outline the principle of quality management in an organization
Date posted: October 26, 2021. Answers (1)
- Steps of implementing lean in an organization(Solved)
Steps of implementing lean in an organization
Date posted: October 26, 2021. Answers (1)
- Define LEAN as used in management of organizations while stating its tools(Solved)
Define LEAN as used in management of organizations while stating its tools
Date posted: October 26, 2021. Answers (1)
- Describe a Learning organization(Solved)
Describe a Learning organization
Date posted: October 26, 2021. Answers (1)
- The benefits of business excellence for small and medium enterprises(Solved)
The benefits of business excellence for small and medium enterprises
Date posted: October 26, 2021. Answers (1)
- Ways that organizations can assess their systems and performance against Business Excellence Models(Solved)
Ways that organizations can assess their systems and performance against Business Excellence Models
Date posted: October 26, 2021. Answers (1)
- Describe Baldrige Model and European Foundation for Quality Management (EFQM) business excellence models(Solved)
Describe Baldrige Model and European Foundation for Quality Management (EFQM) business excellence models
Date posted: October 26, 2021. Answers (1)
- Define business excellence and state five business excellence models(Solved)
Define business excellence and state five business excellence models
Date posted: October 26, 2021. Answers (1)
- Principles of effective leadership according to Niccolo Machiavelli(Solved)
Principles of effective leadership according to Niccolo Machiavelli
Date posted: October 26, 2021. Answers (1)
- Describe the eight-step change process according to John Kotter(Solved)
Describe the eight-step change process according to John Kotter
Date posted: October 26, 2021. Answers (1)
- Traits / characteristics / features / qualities of effective strategic leaders that leads to
superior performance(Solved)
Traits / characteristics / features / qualities of effective strategic leaders that leads to
superior performance
Date posted: October 26, 2021. Answers (1)
- What is Strategic Leadership?(Solved)
What is Strategic Leadership?
Date posted: October 26, 2021. Answers (1)