Q. Discuss in details the actions that could lead to the development of effective risk management capabilities.
solution-
the action that could lead to the development of effective risk management capabilities are as follows-
1.analysing the risk properly
the proper identification of the risks before developing the risk management structure is very necessary for the success of the risk management program as if we are not aware of potential risks to our organization how we can prepare for it effectively.
2.help and support of top officials
the top officials' support encourages others for better decision making as without there help and support it is not possible to make effective decisions regarding the effective risk management program.
3.proper solution for risk evaluation
the proper solution or program for defined risk is very necessary as it is the main purpose of developing the risk management program as we want to fight with the potential risk of an organization.
4.technology
the use of technology is also very necessary for effective development of a risk management program as the use of technology helps in sharing as well as gathering information from various areas as well as we can fetch data from the previous time to check its results.
5.understanding among employees
the better understanding and trust among the employees is very necessary as the views of each and every employee are very necessary for developing the better risk management different views are very effective.
Q. Discuss in details the actions that could lead to the development of effective risk management...
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