Question

I. What are the basic steps involved in creating enterprise risk management programme?

II. How can the need for risk management be raised in an organization? I

II. ‘Risks that an organisation faces usually originate from three sources’. What are these?

Answer 1

1.ERM (Business Risk Management) is a business that allows you to make timely and smart decisions by assessing your overall risk exposure to both threats and opportunities. Large enterprises must respond to this new focus, and the public sector should not only be a vertical ERM for future organizations, but also be more efficient in terms of horizontality.

1. ERM requires the entire organization to proactively identify, inform and manage risk, regardless of position or vision. Everyone should follow a common approach, including the right policies and processes, unique risk storage and common reporting formats.

2. Responsibility and ownership should be simple when considering the business risk framework. Objectives selected in the structure have specific goals. Everyone is responsible for achieving relevant goals and managing related risks.

3. Risk The risk of budget and common sense affects the region because it is naturally concentrated.

4. The most important aspect of risk management is to adopt appropriate risk management measures. However, it is not possible to cope with all the identified risks. You need to decide what to pay attention to: guides and materials

5. The change from risk management to “risk management” is a difficult task at all levels of the organization. However, it is very difficult for the whole company.

2. The company knows the potential risks associated with its business. It is easier to take steps to avoid this. Business managers can know the risks and plan to reduce their negative impact.

The overall goal of risk management is to ensure that your business only embraces the risks that help you achieve your key goals, while controlling all other risks. Risk management is important to an organization because without it, you cannot set goals for the future.

3. Risk source. The agriculture industry has five main risk factors: production risk, marketing risk, financial risk, legal risk and human resource risk.

Production risk: -Product quality.

Marketing Risk: -Change the price situation according to the market situation.

Financial risks:-Changes in debt and capital capacity to meet funding needs.

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