Contents

1. Introduction 3

1.1. Examination of Role of Risk Management to Identify, Analyze and Control the Risk 4

1.2. Structures and Activities of Risk Management Functions 5

1.3. Analysis of Main Types of Risk Facing Businesses 6

1.4. Examination of The Key Operations which Expose Businesses to Risk 7

1.5. Appraisal of Different Types of Security Risks 7

1.6. Business Areas Which are Particularly Vulnerable to Security Breaches and Fraud 8

2. 2nd Task 8

2.1. How Various Methods and Techniques are used to Measure and Assess Risk 8

2.2. Analysis of Actions to Manage Risk by Businesses 9

2.3. Identification of Advantages and Disadvantages of a business having Risk Management System 10

2.4. Analysis of Role and Responsibilities of Manager for overall Accountability of Risk Management 11

2.5. Critical Evaluation of Role of Monitoring and Budgeting in Risk Management 12

3. 3rd Task 13

3.1. Impact of External Influences on Managing Operational Risk 13

3.2. Role of Integrated Risk Management for Reducing Impact of External Factors 14

3.3. Analysis upon the Relationship between Risk and Marketing Strategy 15

3.4. Business Areas which are Influenced by Marketing Risk 15

3.5. Use of Benchmarking to Reduce Risk 16

4. 4th Task 17

4.1. Analysis of Link between Crises Management and Contingency Planning 17

4.2. Why Business Continuity Breaks 18

4.3. Evaluation of the Contribution Crisis Management Systems 19

5. References 20

Managing Risk in Business

Introduction

• What is risk?

Risk is the chance of less return than expected. The fluctuation in income and instability to expected income is categorized as risk. The process in which risk is identified, route causes are addressed and efforts are done to minimize the risk is known