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Operations management - Essay Example

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The article defines risk management as activities that integrate the risk assessment, risk recognition, develop management strategies, and mitigates risk with the help of managerial resources. Some of the conventional risk management, focuses on stemming the risks from legal or…
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Operations management
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Download file to see previous pages The intended audience of the article are risk management authority in companies and organizations. The text is approved by the Institute of Publishers in Germany. The article defined the term risk management that might help organizations to identify some of the potential risk that are likely to face a company. The text is related to the risk concepts and themes based on the ways in which risk can interfere the functionality and operations of a business. Additionally, the major strength of the article is that the research question on risk management overview is well defined. One limitation of the article is that it does not address proper ways of managing risk.
The article asserts that the objective of the risk management is reducing various risks that are related to the pre-selected domain to those that are acceptable. Additionally, it may entail various threats that are caused by technology, environment, politics, humans, and organizations. Additionally, the paper explains that the risks are not easy to avoid and is present in each situation of human. The risks are present in daily operations, private, and public sector companies. Therefore, irrespective of the risk context, risk management is generally universal in either technical or stakeholder causes. The author of this article is a lecturer of university of Chicago. The intended audience of the article are risk management oversight committee in parastatals and other government offices. The New York publishers approve the text. The article defined the term risk management that might help organizations to identify some of the potential risk that are likely to face a company. The text is related to the risk concepts and themes based on the ways in which risk can interfere the functionality and operations of a business. Additionally, the major strength of the article is that the research ...Download file to see next pagesRead More
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