Questions On Risk Management Culture Essay - 820 Words

Chapter 4: Analysis 4-1 Reliability statistics Table 2 shows the reliability coefficients based on the Cronbach Alpha, the score is good for both risk management culture and risk control while moderate for emerging risks management, which means that the researcher can trust the questionnaire in exploring enterprise risk management practices. Table 2: Reliability statistics ERM Components Cronbach Alpha N of items Risk Management Culture 0.782 15 Risk Control 0.747 6 Emerging Risks Management 0.646 3 4-2 Current enterprise risk management practices in the Lebanese insurance sector The questions aim to understand risk management practices in the insurance sector. They are split into 3 sections: risk management culture, risk control and emerging risks management, in order to explore the enterprise risk management practices through examining the components. 4-2-1 Risk Management Culture In understanding enterprise risk management practices, it is important to have risk management culture, because it is people who manage risk. Employees throughout the organization should have knowledge and be aware of risk management culture. The risk management culture indicator is split into 4 variables: risk governance, incentive compensation structure and organization structure, risk appetite framework, risk reporting and risk communication and reporting. Referring to table 3, the respondents perceived that only three elements of risk management culture as having a high importance needShow MoreRelatedGeneral Guidelines And Rules On Risk Management1550 Words   |  7 PagesISO 31000:2009 explains the general guidelines and rules on risk management. These guidelines are used by associations, companies, organisations, private, communities, public and groups or individuals. Hence, ISO 31000:2009 does not limit to any particular industry. ISO 31000:2009 can be brought in application for the whole life span of an organization, and to a broad area of activities, which covers plans and strategies, decision making processes, specific functions, product and services etc. ThisRead MoreGeneral Guidelines And Rules On Risk Management1620 Words   |  7 PagesSO 31000:2009 explains the general guidelines and rules on risk management. These guidelines are used by associations, companies, organisations, private, communities, public and groups or individuals. Hence, ISO 31000:2009 does not limit to any particular industry. ISO 31000:2009 can be brought in application for the whole life span of an organization, and to a broad area of activities, which covers plans and strategies, decision making processes, specific functions, product and services etc. ThisRead MoreSwot Analysis : Risk Identification Techniques1021 Words   |  5 Pages1) Risk Identification Techniques †¢ SWOT Analysis: SWOT analysis plays a key role in formulation of strategy and hence, it can be used for identifying strategic risks. The strengths and weaknesses of a company are internal in nature and can cover the risks associated culture, organization, financial and operational part of the strategy. The opportunities and threats of a company cover uncontrollable risks political, social, environmental, industrial etc. that need to be factored in strategy makingRead MoreEnterprise Risk Management ( Erm )1726 Words   |  7 PagesEnterprise Risk Management (ERM) is the ability to identify, manage and/or mitigate risks that can affect the overall business operations down to the day to day operations of an organization (Hampton, J., 2009). The overall Enterprise Risk Management (ERM) entails the utilization of a holistic model to identify risks that face an organization. ERM is not successful when it is managed in silos. Doing so could lead to the organization not having a cl ear understanding of risks and a misunderstandingRead Moreproject manajment1121 Words   |  5 Pagesï » ¿2-15-99 Project Management: The Managerial Process COMPREHENSIVE TABLE OF CONTENTS PREFACE CHAPTER 1 Modern Project Management What is a project? The project life cycle The project manager The importance of project management Snapshot from practice: The best wireless phone in the world Snapshot from practice: The emergence of e.Schwab The evolution of project management systems Project management today-- An integrative approachRead MoreEffectiveness Of Risk Management And Business Development Within Organizations1222 Words   |  5 Pagesuncertainties and risks that any organization should pay more attention to risk management. According to an effective governance, organizations can take opportunities successfully, and a good risk management can be the fundamental security for effective governance. (reference1) This essay answers the question â€Å"how can risk management contribute to effective governance within organizations† and classifies the explains in three parts. Firstly, the system construction of risk management is the benefitRead MoreHarley Davidson Essay658 Words   |  3 Pages Name: William Pate Case Study Title: Case Study #5 Harley-Davidson Question #1 If you were CEO of Harley-Davidson, how would you compare the advantages and disadvantages of using exports, joint ventures, and foreign subsidiaries as ways of expanding international sales? As CEO of Harley-Davidson the way that I would compare the advantages and disadvantages of exporting would be; Exporting Gives us instant market access into a new market making us able to maximize revenue in a short amountRead MoreQuality And Safety Initiatives Throughout The U.s. Health Care Delivery System932 Words   |  4 PagesQuality improvement and risk management are known to improve the delivery of health care and should be part of both strategic and operational planning in every area of healthcare delivery, clinical and non-clinical. Risk management and quality improvement should be considered as an integrated approach when determining clinical practice, equipment design and procurement, capital development, information technology, contractor management, workplace health and safety, workforce management, and financial planningRead MoreEssay about question on costco621 Words   |  3 Pagesrefer to the document on this matter posted on eCentennial on September 12, 2013. Here are your Part B questions. References in these questions to Costco Wholesale Corporation, Costco, and â⠂¬Å"the company† are to be read and understood as one and the same. Your submission should be a word-processed document, prepared in the usual format (cover page, double space, font size 12, headings for each question, one-inch margins, appropriate end notes, etc.) and should be submitted to me in class in person atRead MoreRisk Management And Sentinel Events1322 Words   |  6 PagesPortfolio Project: Risk Management and Sentinel Events According to the Joint Commission (2014), a sentinel event is an unexpected occurrence whereby a death or serious physical or psychological injury occurs. Because of their severity, there is an expectation of an immediate investigation and response to the event. In the case study (2014) for analysis, a serious sentinel event occurred with the death of an infant born to a mother with a history of syphilis. While understandably upsetting, a sentinel