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Essay / Research Paper Abstract
This is a 5 page paper that provides an overview of risk management. External and internal risk management strategies are discussed. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: KW60_KFbiz072.doc
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Unformatted sample text from the term paper:
it is not one that is impossible to resolve. In order to successfully conduct business in the 21st century, it is not possible to forsake risk altogether. Rather, one must
simply take potential risks into consideration at all times, and indeed make risk awareness an integral aspect of business management. This paper will explore the intricacies of risk management in
a business setting modeled after the typical contemporary corporate configuration. This paragraph introduces the concept of environmental risk management and provides an overview of the reasons why it is essential
to running an effective business. The process through which risk is most frequently managed in a modern business setting is referred to as "environmental risk management" (Cooper et al., 2005).
Environmental risk management refers to the process of conducting in-depth analyses of the business environment using a variety of metrics and analytical tools, and then determining the likelihood of various
organizational risks emerging from that environment. Then, strategies for avoiding or mitigating the risks are developed in accordance with the determination of which types of risks are most likely to
cause issues for the business. It is important to stress that having a viable and nuanced risk management program in place in a contemporary business is more than just a
requirement to succeed at business; it is necessary in an ethical sense in order to provide good faith effort on the behalf of employees and stakeholders, and it can even
be necessary in a regulatory sense, in order to adhere ones business to practical oversight (Cooper et al., 2005). Whatever the case, whenever one implements environmental risk management into ones
organization, there are two key elements to keep in mind: maintaining the continuity of the business, as well as recovering from disasters. The first element, maintaining business continuity, refers
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