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Environmental Management Master - Essay Example

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Environmental management systems have a great in the functioning f organizations. In about last 15 to 20 years, a completely different approach to dealing with environmental conditions has been evolving, namely the development f environmental management systems…
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Environmental Management Master

Download file to see previous pages... The orientation is positive rather than negative. Environmental management systems are seen as adding value to products and services, creating a competitive advantage, improving community image, reducing costs, and increasing the bottom line.
A risk management approach, with heavy emphasis placed on prevention, control, and technical systems, can make a positive and effective contribution to environmental management systems. Risk managers can and should be a part f developing and operating environmental management systems. While risk managers are currently involved in environmental issues, they could be much bigger contributors.
Individuals or groups with undisciplined approaches to problem solving typically derive solutions with no real understanding f the problem. This typically results in solutions that are temporary in nature and end up being costly to the organization. According to Sheldon and Yoxon (2002) an organization cannot manage what it does not measure. Effective employees, managers and leadership in an organization are those who follow logical, systematic approaches in their quest to solve problems and make decisions in the problem solving process. There are numerous tools that are used in the decision-making process, such as brainstorming, backwards planning, incubation, and risk analysis. This paper will focus on providing an analysis f the decision-making tool called risk analysis and apply it to the world f mobile computer manufacturers.
In order to understand the risk analysis technique, we must define the concept f risk. We must also clarify the distinction between the concepts f problem solving and decision-making, two concepts that are frequently confused with one another.
Problem solving can be defined as the process f identifying and correcting a problem. A problem can be defined as the gap between "what is" and "what should be". According to Kiesow (2002), it is in this stage that we define and identify potential solutions for problems. Decision-making is the process f selecting one solution from alternative solutions that will solve a problem. Thus, decision-making is actually a part f the problem solving process.
Risk analysis is a popular decision making tool used in a multitude f diverse activities such as insurance underwriting, investment planning, banking, commodities trading, military strategic planning, engineering, environmental studies, and scientific inquiries. It is a technique used to identify possible risks, assess their likelihood and impact, and facilitates the creation f methods to avoid or reduce these risks. The technique employs risk assessment, risk management, and risk communication into its process.
According to Wharton (1992), risk assessment is the articulation f risk in terms f their likelihood and seriousness. Risk assessment involves three fundamental processes. The first is the identification f risks. This produces a list f risk items that can be evaluated. The second is the analysis f the risk or risks. This process assesses the probability f loss and magnitude f each listed risk. (Welford 1997) The third involves prioritizing the risks in a ranked order. Once the risks have been identified and assessed, risk management techniques and methodologies can be applied to ...Download file to see next pagesRead More
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