The major issue is the persistent contextual myopia in risk management, concentrated solely on
hazard risk; risk management has been a disconnected function, risks do not always fit into categories
quite neatly. An example would be business interruption at a plant, this has finance, marketing, and
reputational implications beyond the effects on production and also, the applicability of the property
insurance policy. The growing recognition that co-ordinating and financing all facets of organisational
risk effectively, is critical for the maximization of success.
Scholars have observed that it cost much more to manage risk individually
The major issue is the persistent contextual myopia in risk management, concentrated solely on hazard risk; risk management has been a disconnected function, risks do not always fit into categories quite neatly. An example would be business interruption at a plant, this has finance, marketing, and reputational implications beyond the effects on production and also, the applicability of the property insurance policy. The growing recognition that co-ordinating and financing all facets of organisational risk effectively, is critical for the maximization of success.Scholars have observed that it cost much more to manage risk individually
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