Risk Management Evolution for Business and Operations  

Oleh:

Ramachandran, Venkatesh

Jenis: Article from Proceeding
Dalam koleksi: 12th ANQ Congress in Singapore, 5-8 Agustus 2014, page 1-14.
Topik: Enterprise Risk Management; Business Risks; Risk Categorisation; Risk Process Measures; Risk Control
Fulltext: OB2-2.2-P0212.pdf (1.31MB)

Isi artikel

Our focus be it business management, leadership, safety, health, environment, security, insurance, business continuity, strategic analysis, financial risk, treasury management, or compliance – Uncertainty prevails. Businesses face uncertainty and the challenge for the Management is to determine how much uncertainty to accept. Uncertainty presents both a risk as well as an opportunity, with the potential to erode or enhance value. Risk can be defined as a future event with a probability of occurrence. Risk has potential for loss & Impact on objectives that can be either positive or negative. Events with negative impact also represent risks. All risks can never be fully avoided or mitigated simply because of financial and practical limitations. Risk management is the practice of systematically selecting effective approaches for minimising the effect of the threat realising in the business. Despite many years of evolution, risk management decisions have been the privilege of a few expert persons in the businesses. This was fine and sufficient when the businesses were small and run by a few people and in a few locations. The complexity of the modern world combined with global presence of business operations, requires better approaches to risk management and decision making. This paper focuses on the core concepts of Risk Management, with additional importance on business integration, enterprise risk management and Value creation: - Risk process covering the entire operations - Risk Categorisation - Risk awareness and proactive approach to risk management - Systematic & Harmonized approach for integrated risk handling - Risk identification, classification, analysis, control & reporting

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali