business company. Controlling risk can be done by either avoiding the risks
or by controlling the loss from the organization.
For risk management to be effective, it should ensure that all members of
the organization are committed. All the policies and methods should be
established. The staff should have clear roles
and responsibilities and are
very accountable. The teams should also have adequate resources and tools
to be able to deal with the risk. If this is done, the benefits could be there
will be saving of funds, point in time profits
possessions populace and
property. Having a safe and conducive environment for the workers,
visitors, and also customers. There can also
be a reduction in the legal
liability and make an increase in the stability of the operations.
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