Unfortunately such high degree of risks can bring negative impact on the profitability as well as to the future success of the organizations. So to protect from such bad consequences it is essential for such organization as soon as possible to find an appropriate solution so that they could handle or manage risks in better way which in otherwise could bring catastrophe to them. So a desirable solution is through applying appropriate sets of procedures or policies at proper intervals. Risk management is one such effective strategy that to a great extent can minimize or reduce various types of risks that an organization has to face while carrying out its operations. By adopting such strategy an organization can ensure its better success and growth in the future. Viewing this importance the paper attempts to describe what is risk management or risk management decisions, the direct and indirect costs and benefits of risk management decisions to an organization and how they can be measured.
Risk management or risk management decisions are a logical process that aims at eliminating or minimizing the level of risk pertained to any business operations. ...Show more