Running head: RISK MANAGEMENT ASSESSMENT (LOANNIS KATSOULIERIS) 1
Risk management assessment
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Managing risk assessment 1
Question one:
Risk is the probability that the actual result of a particular situation will differ from the expected outcomes. It includes the chance of losing all or some of the investments. Calculating the standard deviation is one of the many ways of measuring risks. The higher the standard deviation the higher the degree of risks. Risks can come from project failures, financial markets, legal liabilities, and credit risks (Chance & Brooks, 2012).
Even though risk management should be the responsibility of everyone from the board to the staff, as …show more content…
In addition, some human risks include dishonest fellow employees and employers, as well as accidents that may cause death and serious injuries to fellow employees. Harsh and ruthless employers are also some of the risks one may face in the workplace (Chance & Brooks, 2012). Moreover, some risks may come from natural disasters, such as earthquakes, lightning, cyclones, or tornado. These natural disasters may cause injuries in the workplace, for instance, when lightning strikes, one may become …show more content…
They have the responsibility to provide safety to their citizens and ensure that good health is promoted. Governments are considered as the ultimate risk managers. Governments encourage organizations to develop better risk management tools because they may lead to the successful implementation of government programs. Governments provide health care, deal with natural catastrophes, such as losses caused by floods. They are also concerned with managing financial institutions. For them to be effective, they have to encourage enterprises to practice sound risk management principles in order to avoid risk from the source and also to reduce the level of risks. Governments also have the moral responsibility of ensuring that citizens are not at a risk of consuming dangerous products (Chance & Brooks, 2012). Moreover, the governments have the responsibility of managing moral hazards and promote sound marketing
Risk management assessment
Name:
Institution:
Course:
Tutor:
Date:
Managing risk assessment 1
Question one:
Risk is the probability that the actual result of a particular situation will differ from the expected outcomes. It includes the chance of losing all or some of the investments. Calculating the standard deviation is one of the many ways of measuring risks. The higher the standard deviation the higher the degree of risks. Risks can come from project failures, financial markets, legal liabilities, and credit risks (Chance & Brooks, 2012).
Even though risk management should be the responsibility of everyone from the board to the staff, as …show more content…
In addition, some human risks include dishonest fellow employees and employers, as well as accidents that may cause death and serious injuries to fellow employees. Harsh and ruthless employers are also some of the risks one may face in the workplace (Chance & Brooks, 2012). Moreover, some risks may come from natural disasters, such as earthquakes, lightning, cyclones, or tornado. These natural disasters may cause injuries in the workplace, for instance, when lightning strikes, one may become …show more content…
They have the responsibility to provide safety to their citizens and ensure that good health is promoted. Governments are considered as the ultimate risk managers. Governments encourage organizations to develop better risk management tools because they may lead to the successful implementation of government programs. Governments provide health care, deal with natural catastrophes, such as losses caused by floods. They are also concerned with managing financial institutions. For them to be effective, they have to encourage enterprises to practice sound risk management principles in order to avoid risk from the source and also to reduce the level of risks. Governments also have the moral responsibility of ensuring that citizens are not at a risk of consuming dangerous products (Chance & Brooks, 2012). Moreover, the governments have the responsibility of managing moral hazards and promote sound marketing