Business Continuity Management BCP as a concept can be applied after carrying out before incident assessment. It also entails designs and plans formation basing on facts, examples and situations. Many researches show an upward trend in growth of a sector that has played critical role to revive American economy.
Constant inventions and innovations have played critical part to the process of expanding art market, which has in turn enabled the market to accommodate several new players over a relatively shorter period.
Risk management can help these organizations in preparing an approach to assess their potential risks and the preparedness to meet challenges. Being a domain of the European countries, the articles also states the roles that the nation has played in reversing the whole concept.
China in particular has excelled in fine arts for the past two decades overtaking even the United States. For instance, the global economic downturn of posed great challenge to America even as they put on brave face to revive the diminishing fortunes in the international arts market.
These projects might jeopardize the economic growth and development of the host nations after the conclusion of the event through overcrowding the growth and development plan. Other managers must provide information necessary for the risk manager to review and identify loss exposures.
The research study reveals that the International markets are currently shifting from the west to the East. Poor performance of the countries of the European Union has been subject to speculation and scrutiny though changing economic and political fortunes have been the major cause.
Theories Many theories have attempted to explain the origin and developments of art market over the past years. The risk management at a high level helps in the following three areas: Justice and security organizations are exposed to insurance claims.
State of the Art has been an overriding philosophy that has enabled major world economies step up effort to enjoy bigger command of the market. America has in effect taken over the world art holding the largest stake while China now occupies second place.
The market has a unique design that gives prospective investors in the industry the urge and opportunity to learn more about risks and ways of enhancing investment into the rapidly growing industry. Knowledge about the global market for an investor in art industry is fundamental to every investor around the world irrespective of gender, race, language or nationality.
These organizations can take an informed and economically viable decision to mitigate risks. The risk exposure probability helps identify process or policies that might have loop holes and may lead to threat materialization.
Economic impact or implications on the other hand adopts and implements a broader perspective in relation to the general economy of the host country.
The conceptual framework for the risk management plan helps in describing shared vision, which provides coherence for both advanced and initial art works.
This also reduces the chance of any potential liabilities that might arise due to risk materialization. Role of other managers The Risk Manager cannot be successful without the assistance of other groups within the organization.
The post incident assessment is easier to conduct if the risk management has been done as the probable causes of incident are easily identified and the measures to deal with it can be strengthened.
Focusing on various themes, the conceptual frameworks helps in preparing artists who will be in a position to apply their knowledge and skills to reflect and refine art practices.
This is necessary as some of the risks that these organizations could be exposed to may come from third party sources.
Standard operating procedures could be established to mitigate risk. Dwindling economic performance has been one of the challenging situations for America as compared to China. It is a proactive measure for these organizations.
Pitiable performance of stocks and bonds in the world market has triggered most investors worldwide to reconsider their investment destinations.
The stakeholders can be educated about the risk points and the effect of risk materialization.Abstract: This essay is mainly about the role of risk management in addressing any potential risk to the organisation that may cause a lot of losses.
The role of the Risk Manager. Provide a methodology to identify and analyze the financial impact of loss to the organization, employees, the public, and the environment. The Role of Risk Management in Project Management Essay THE ROLE OF RISK MANAGEMENT IN PROJECT MANAGEMENT Risk Risk is an uncertain event or a set of circumstances whose occurrence will have an impact on achievement of one or more of the expected project goal and objectives.
Risk Management Plan brings into perspective the significant role that security plays in the livelihoods of people across the globe.
It particularly assesses. In the role of an administrator for their organization, the security manager will work with others from the management team to achieve the organizations vision for their security plan.
They will decide the overall operational structure of the security program based on the approved risk management plan, and will also help to determine the. Read this essay on Role and Importance of Management. Come browse our large digital warehouse of free sample essays.
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