the role of risk management
The Role of Risk Management in Modern Organisations
The importance of risk management in reducing the amount of financial and Human losses under the impact of natural disasters
(Japan – Fukushima)
Abstract: This essay is mainly about the role of risk management in addressing any potential risk to the organisation that may cause a lot of losses. Management's mission is to predict the risk before disaster strikes, which require to study all the information and the details provided by the risk management team. In addition, what are the mistakes that had been committed in some of the examples mentioned in this essay? and did they learn from their mistakes?. Finally, development of communication must be promoted between risk management sector and top management and activating the role of participation in making the right decision.
Word Count: 1500 words
Risk management is basically a planning tool to manage risks, by evaluating and understanding the risks and the results of these risks and what are the expected risks that could occur in the near future, whether due to internal factors of the business or by external factors. The risk management is based on carrying out the coordinated planned steps through which to know the risks and the possibility of occurrence. Risk management is mainly focuses on the risks arising from financial or legal reasons (example: natural disasters, fires, accidents, death and lawsuits). The financial risk management focus on those risks that can be managed by using some analyzes and estimates, which may be a contributing factor to avoid any unexpected accident that may cause a lot of problems.
This essay is focusing on the role of risk management when natural disasters occur and how organisations cope with these issues to reduce the amount of losses as possible as it can . The process of reducing the amount of losses when a natural disaster is nearly to occure is a very hard work to do. Many companies nowadays consider that
The importance of risk management in reducing the amount of financial and Human losses under the impact of natural disasters
(Japan – Fukushima)
Abstract: This essay is mainly about the role of risk management in addressing any potential risk to the organisation that may cause a lot of losses. Management's mission is to predict the risk before disaster strikes, which require to study all the information and the details provided by the risk management team. In addition, what are the mistakes that had been committed in some of the examples mentioned in this essay? and did they learn from their mistakes?. Finally, development of communication must be promoted between risk management sector and top management and activating the role of participation in making the right decision.
Word Count: 1500 words
Risk management is basically a planning tool to manage risks, by evaluating and understanding the risks and the results of these risks and what are the expected risks that could occur in the near future, whether due to internal factors of the business or by external factors. The risk management is based on carrying out the coordinated planned steps through which to know the risks and the possibility of occurrence. Risk management is mainly focuses on the risks arising from financial or legal reasons (example: natural disasters, fires, accidents, death and lawsuits). The financial risk management focus on those risks that can be managed by using some analyzes and estimates, which may be a contributing factor to avoid any unexpected accident that may cause a lot of problems.
This essay is focusing on the role of risk management when natural disasters occur and how organisations cope with these issues to reduce the amount of losses as possible as it can . The process of reducing the amount of losses when a natural disaster is nearly to occure is a very hard work to do. Many companies nowadays consider that