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Risk, Uncertainty, Heuristics, Bias
The meaning of the word ‘risk’ has several connotations that differ from one person to another. Deregulation in today’s business environments has forced managers to face unpredictable and sporadic...
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Risk In The Spectrum Of Uncertainty And Knowledge
Several great thinkers defined risk in different ways and laid the foundation of our understanding of the meaning of risk and its corresponding relationship with uncertainty and knowledge. The most...
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Applying Qualitative And Quantitative Risk Analysis Techniques: Case Study...
An essential work element for department X, the IT department of Organization Y, is firefighting against all incoming system defects and trying to resolve the most in the shortest time possible. An...
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The Impact Of Risk: Consequences Or Likelihood?
It has been asserted through research that risk assessment is a function of two variables, the likelihood or probability of the event, and the severity of the consequences of the event. Literatures...
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Risk: Mitigation Strategies And Decision Making
There exist several mitigation strategies that help managers in understanding risks and their impact on the business and on the organizational objectives. These treatment strategies are mainly branched...
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Enterprise Risk Management
The responsibilities of risk managers have developed considerably in the last few years to the extent that they are now moving beyond operational and hazard risks to nonoperational, financial, and...
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