Strategic Risk Management Essay
To overcome this kind of risk, we are utilizing policymaking as the highest level tool and well organised stakeholder involvement. The risk spread fast, our …show more content…
Our risk management policies and procedures contains particular actions for each critical activity or group of activities such as alternative field methods or locations, deployment of extra information and communication technology infrastructure including, sourcing of critical equipment and materials.
Crisis management is included in our risk management policy which serves to be a boon for recovery which is , actions taken following the commencement of a disruptive event in order to return the organisation to routine management.
I would like to quote a general example from an episode. Just after the 2005 terrorist attacks on the London underground and a bus, somebody placed a sign saying “London area is closed”. The ministers quickly released a political value statement that London would remain open and accessible. Following the 2004 attacks of Madrid’s commuter trains, the Spanish prime minister made a similar announcement. These announcements had a very positive impact helping crucially to guide citizen’s