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Effective leaders of change are aware of these not uncommon individual reactions to change. They plan how to deal with change by acccepting that employee anticipation and fear of change is a significant organisational risk unless people can be encouraged to learn and engage with the change and reflect upon the choices and options available to them. “The dogmas of the quiet past are inadequate to the stormy present.The occasion is piled high with difficulty, and we must rise with the occasion. As our case is new, so we must think anew and act anew” Abraham Lincoln Q.4 Describe the three major classification and categories of Risk management. Ans. Risk management is a structured approach to managing uncertainty related to a threat, a sequence of human activities including: risk assessment, strategies development to manage it, and mitigation of risk using managerial resources. About Types of Risk Management Commercial enterprises apply various forms of risk management procedures to handle different risks because they face a variety of risks while carrying out their business operations. Effective handling of risk ensures the successful growth of an organization. Various types of risk management can be categorized into the following:

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OPERATIONAL RISK MANAGEMENT:

Operational risk management deals with technical failures and human errors

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FINANCIAL RISK MANAGEMENT:

Financial risk management handles non-payment of clients and increased rate of interest

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MARKET RISK MANAGEMENT:

Deals with different types of market risk, such as interest rate risk, equity risk, commodity risk, and currency risk

TYPES OF RISK MANAGEMENT TECHNIQUES Risk management is a business process in which a business analyzes risk in an effort to miminize the effects of such risk. Organizations must identify risks and assess how dangerous each risk could be to the organization. Taking steps to eliminate risks will reduce the possibility of a financial loss. Risk management should be continuous and revisited at intervals the organization deems appropriate. y

Assignment (manish solanki)  

MBA 2nd sem, assignment answers

Assignment (manish solanki)  

MBA 2nd sem, assignment answers

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