Risk Management basically pertains to the anticipation and management of potential risks in a business organization. As a specialized discipline of study
Risk Management holds a lot of importance in Management studies. Whichever organization it may be there is a certain level of risk involved in every
business organization, so ‘Risk Management’, as a subject is given a lot of importance in very small or big business concern. Most of the students have
been observed to find it a challenge to resolve technical questions related to Risk Management. To cater to this rising issue amongst students, we at homeworkkiller.com, provide complete assistance related to solving homework or assignments.
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An insight on Risk Management!
The term ‘Risk’ has been characterized as the likelihood of occurrence of an event that might have a negative effect upon a business. It is brought on by
individuals, adopting different methodologies, strategies, and characteristic occasions. At the point when there is a probability of misfortune,
decimation, harm or drawback, the event is termed as a risk.
Risk Management is a constant procedure of arranging risk control. It includes a cautious examination of what you can do when something happens, and
comprehension of whether you have taken enough precautionary measures to battle the uncalled emergency situations.
The following are the main components of Risk Management:
Risk Identification: This is perhaps the first step involved in implementing a Risk Management Strategy. Risk Management begins by examining all the
probable sources of risk. In simple words, a ‘what if’ analysis is done to identify the potential risks associated to a business model. In this process,
the employees of an organization are asked about the major risks they face in their functional areas, and what remedial measures do they practice to defer
such risks. This is basically done through brainstorming sessions, random inspections or audits, and by conducting a SWOT analysis. These activities help
organizations to quickly identify the potential risks, and get prepared to tackle the same in case of an emergency situation.
Risk Analysis: This happens to be an important step in any risk management process. After having recognized the potential risks, one has to list the
activities according to the size and measure of the risk rising factors. For example, one has to select the most important factors, and prioritize the
agenda accordingly. Risk prioritization can be done by identifying different risks and looking at their impact on the busine3ss.For example, Risks that
have an impact on the ability to continue business, financial prosperity or the image of the company, are naturally the most critical risks, and so need
immediate attention. Others like an unanticipated premium rate change or a strike at your local bank are still manageable risks, and have a less
detrimental impact, and so can be tackled in the regular course of business.
Cutting-off the risk factors: While risk can never be totally avoided in a business, but it can certainly be mitigated at any point of time. Thus, it is
imperative to establishment suitable risk constraining measures. While one may argue that higher the risk, higher are the returns, however here it is
important to mention that one should only take calculated risks.
Freezing a plan: Since there are a number of solutions that can be opted, so it is important that one must select a suitable risk management process and
execute the same.
Review your Plan: It is important that your plan has a specific end goal to guarantee, and that it serves the established goal.
Create awareness: Surprisingly, this is the most important yet ignored part of risk management process. There is no meaning in having an extended plan, if
the plan is not known and understood by those who have to implement it. It must be ensured that there is adequate communication between the staff about the
systems to be followed in a situation of risk.
The risk management methodology is an ongoing prevention model, and must be implemented as per the needs of a business life cycle. Most efficient companies
have a risk management program in place, for evaluating and managing natural calamities and security threats.
The topics we cover!
Although Risk Management has a number of topics included in it, however the main topics that we cover under our ambit of services include the following:
Market Risk, VAR Modeling, Credit risk, Back-testing and stress-testing, Operational Risk, Creational Modeling, Options and Volatility, Option pricing,
Risk Management and Financial Return
Our tutors are well versed with all the topics related to Risk Management, and hold years of experience in handling both theoretical as well as practical
problems. In the event, that you are stuck in a situation where you are unable to find an appropriate answer for your question, just let us know about the
same, and we’ll assist you in getting the best answer for your question within no time.
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