Organizations have always assessed and managed risk, but until recently this function has been isolated and little understood. Now risk management is moving into a broader spotlight, taking its rightful place beside strategic and operations management. This extensive overview explains the fundamentals and highlights the changing role of risk management in:
-- Managing financial and technological risks -- and minimizing catastrophic risks
-- Limiting corporate exposure to legal liability
-- Funding disability, retirement, and other human resource issues.
Aimed at specialists and non-risk managers alike, Risk Management Practices also identifies special risk management considerations for specific types of businesses and industries. It presents a framework called Organizational Risk Management (ORM), which facilitates an integrated, money-saving, company-wide approach. Readers can use ORM to systematically support the corporate mission, assess and control risk, fund the purchase of insurance and other risk management tools, and finance corporate losses.
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