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Risk Management (Types of risks companies face (1.Strategic risks…
Risk Management
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Managing risks
1.To recognise the strategic objectives for the organisation and the key processes that the organisation uses.
2.To identify what the risks affecting the organisation might be. To look at them from a management point of view and from the shop floor.
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- Mitigating risk. Treating the risk- putting in place some counter-measures to deal with that risk.
Terminating a risk by stopping the process that leads to the risk.
Transferring the risk by means of insurance or other contractual arrangements.
- To conduct a systematic analysis of the company's approach to dealing with risk.
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