Effective Teamwork: Risk Management
Words: 712 Pages: 2 3290Risk is the presence of uncertainty of results regarding present actions ( Shastri and Shastri, 2014 ). Risk arises due to occurrence of chance events, incubating and culminating in the changing dynamics of the environment. All functional areas of an organization are affected by risk. A single event can unleash a variety of risks. Risk is omnipresent, omnipotent and omniscient. Risk management is a process effected by the entity’s board of directors, management and other personnel, applied in strategy setting […]