past, it was common to think that for every risk there is someone in the
organization was responsible for, whether they had a specific role or a
specific department, and that crises most often
occurred due to irresponsibility at the top of the organization, strategic deficiencies
and transparency problems to the lower echelons.
we understand that risk management is a process that concerns everyone, from
the CEO down to the organization hierarchy.
current understanding of the overall responsibility of the entire organization
results in rigid expectations from all stakeholders that are regarding
corporate discipline demonstration, and the control over all the elements of
business, risk management is defined as a process of identifying, monitoring
and manipulating potential risks in order to minimize their negative impact on
the organization. An effective risk management process will help to identify
the risks pose the greatest threat to the organization and even provide
guidelines for dealing with them.
risk assessment and analysis of an organization helps protect assets, improve decision-making
and optimize operational efficiency to save money, time and resources.
risk management process is conducted using the ERM method and consists of four
1. Risk Assessment:
Evaluate the organization’s exposure to uncertain events that could affect its
ongoing operations, and also to assess the potential damage that could affect
its income and reputation.
2. Risk Analysis: Comparison
of the estimated risks against the risk groups that the organization has
already tested. The risk groups can include costs, socio-economic factors,
legal requirements, and deficiencies.
3. Building a response
procedure: Risk management is the implementation of policies and procedures
that will help prevent or minimize the risks and consequences.
4. Business continuity
management: Implementing work procedures, building a process of learning
lessons and examinee the level and amount of risk ideal for the various
situations in which the organization manages.
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