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MANAGE RISK Question 3 Each organisation should have policies and procedures, grounded in the relevant legislation, in place...

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Operations Management

MANAGE RISK

Question 3

  • Each organisation should have policies and procedures, groundedin the relevant legislation, in place to support their operationsand the various functions/ activities of the business. Riskmanagement plans will relate to the overall operation of theorganisation.

    Outline the reasons why business organisations should developrisk management policies, risk registers and processes for managingrisk. (250 words)

Answer in your own words.

Answer & Explanation Solved by verified expert
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Risk Management plays a crucial role in every organization because managing risk helps the organization to achieve the goalsand thereby maximize the profit of shareholders The main aim of Risk Management is to identify the problems or    See Answer
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