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WHAT IS RISK In simple words risk is danger, peril, hazard, chance of loss, amount covered by insurance, person or object insured. The risk is an event or happening which is not planned but eventually happens with financial consequences resulting in loss. There is saying higher the risk more the profit. Risk is defined as…
RISK MANAGEMENT PROCESS The future is largely unknown. Most business decision-making takes place on the basic of expectations about the future. Making a decision on the basis of assumptions, expectations, estimates and forecasts of future events involves taking risks. Risk has been described as the “sugar and salt of life”. This implies that risk can…
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