Risk
Management
Risk management is
the process of identifying and mitigating risks to business goals,
office environment, and revenue. It is very crucial for an
organization to develop and maintain effective and result-oriented
risk management capabilities in order to become less prone to loss
of revenue and dirty culture. Certain actions or steps that could
be taken to achieve effective risk management capabilities are:
- Future endeavors or decisions
should be taken with external users/customers in mind to remain
sync with future customer demands.
- Clear communications should be made
with the managers and team members to clarify what our
organization's goals and what is expected from their
work and behavior.
- The rules and responsibilities
should be well versed in everyone's mind.
- To keep the employees motivated, it
is necessary that their achievements and hard work should be
properly rewarded.
- Senior management should drive the
force as per the business objectives
- Limitations of the existing risk
management program should be identified and improvisation should
happen on a regular basis.
- The system should exist to monitor
the growth of the employees as well as company's objective in a
single report or user interface.
- Internal audits should be scheduled
on a regular basis to analyze the fulfillment of the company's
objectives and individual goals.
- Senior management should make sure
that the rules are followed pan organization.