Question

1. What are the risk management decisions in technological era in big organizations? (answer must be 250 words or more)

Answer 1

Risk means uncertainties or possibility to suffer a loss.The risk management decisions is very important in whole areas.The risk management decisions is best decision that taken by every organisation for avoid the risk or reduce the effect of the risk. The risk management decision making is a process to select the best alternatives for a specific risk management goal.Ridk is the potential that a decision will leads to a loss or an indescribable results.

Every organisation take several steps before the risk management decisions making.It includes risk identification,risk analysis,risk evaluation and finally risk treatment. These steps will helps to the organisation to take the correct risk management decisions.

The risk management is important for all the organisation because without the risk management ,a firm can't possibly define it's objectives for the future. The whole goal of risk management is to make sure that the company only takes the risks that will help it achieve its basic objectives while keeping all other risks under control.

In the modern situation, find out what the best technologies are by assessing the functional fit of each IT component and the business criticality. This let you opt for a standard across region or office,thus reducing redundant applications or technologies.

In the modern competitive world,lots of new technologies which helps to assess the risks and reduce the risk. The information technology is plays vital role in many business. Many companies use different technologies to identify the risk and manage those risk.The technologies also reduce the risk. So with the help of technologies many companies take their risk management decisions.

The big companies or organisation realise that risk management is the fundamental to good organisational performance because managing risk effectively leads to the better performance.So they develop and implement new technologies to risk management. The big companies use the technological support for identify the risk, measures profitability and impact, analyse security threats, analyse risk of hardware, software failures and rank potential risks and specify desired outcomes.

The big organisations gives more importance to risk management and risk management decisions. So the companies use lots of technologies or technological support to identify, manage and reduce the risk and also the risk management decisions too.