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How do the philosophy and culture of the risk management policies influence organizational performances?
Wiki User
∙ 10y ago
Risk management is defined as the identification of factors within and outside an organization which pose any kind of threat to its operations and profits. Performance could be inhibited by any risk minimisation strategy if it relates to the way it makes money or impacts on working processes.
Wiki User
∙ 10y ago
The philosophy and culture of risk management policies can influence organizational performance by promoting a proactive approach to identifying and mitigating risks, fostering a culture of accountability and transparency, and improving decision-making processes. When risk management is integrated into the organizational culture, it can help enhance operational efficiency, financial stability, and stakeholder trust.
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