Business Management

Risk Management

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Assessment Type


Word Count

2000 words


Risk Management


2 Days

Assignment Criteria

Please follow this instructions very carefully.

Point 1. Introduction

Provide an introduction which provides an overview of whole essay like all body paragraphs. Our main argue is yes we are going to use a generic model like AS/NZS ISO 31000.

Point 2. First body paragraph

Discuss why we use this AS/NZS ISO 31000 model. discuss its positive and negative sides. Discuss why we have not choose another WH&S specific model.

Point 3. Second body paragraph 

Evidences supporting your arguments.

Point 4. Conclusion 

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Assignment Solution


In recent times, the majority of business organizations has adopted the procedures in order to minimize the occurrence of any type of adverse consequences. In this context, it may be stated that an effective and efficient risk management process are widely accepted by the organizations. Safeguarding the entire organization from different types of risk elements both internal and external have become of the key objective of the organizations. This essay provides a detailed insight regarding the various dimension of risk management with an affirmative response towards the proposed guideline forwarded by the AS/NZS ISO 31000 (Dali & Lajtha, 2012). A set of standard principles were formulated by the collaborative efforts of the Australian and New Zealand's public consultants. The primary objectives to accept the AS/NZS ISO 31000 model by the organizations is to promote the practice of proactive management with efficient recognition of vulnerable factors. Apart from this, the companies are observed to inherit this particular risk management model in order to enrich the financial and administrative functioning with better control over the operational activities within the concerned organization. Moreover, reducing unfavourable incidents with a promotion of better safety to the working forcing is the other objective behind the wide-scale accepted of the AS/NZS ISO 31000 model (Leitch, 2010).  In this particular essay, an attempt shall be undertaken to explore the importance of the AS/NZS ISO 31000 model with further analysis of the principles formulated by this particular model. In addition to this certain evidence-based studies will be highlighted in order to provide a better insight into the concerned topic of discussion. In addition, this particular essay shall explore both the positive and negative factors that are found to be attached in the guiding lines formulated by AS/NZS ISO 31000 (Pletneva, 2014). Therefore, the scholar aims to perform a thorough research analyzing the major areas with respect to the topic of discussion with an aim to meet the set requirements of the given task providing an explanatory note highlighting the significance of the AS/NZS ISO 31000 with respect to the operational performance of the business organizations (Standard Australia, 2009). 

The importance of AS/NZS ISO 31000 model:

Almost each and every operation in a business organisation involves internal and external risk. Therefore, the business organisations are involved in implementing a well-organized risk management system with the help of understanding, anticipating and deciding within the organisational managers about the ways in which potential risk could be eliminated. In this entire process, organisational managers keep on communicating with the stakeholders and review and monitor the risk and further discussion on the modification of the risk. Therefore, this could be determined as a logical and systematic process (Standard Australia, 2009). The AS/NZS ISO 31000 model is a new standard tool that could be incorporated in business organisations to manage risk as it is based upon a superseded standard. AS/NZS ISO 31000 model defines risk as 'the effect of uncertainty on objectives'. The definition of risk has been changing from time to time of something happen absurdly that have an impact on business operations. In the process of AS/NZS ISO 31000 model, risk managers are involved in evaluating the possibility of risk occurrence, and they continue to apply risk management treatment in order to reduce the efficiency of the risk or decrease its activity (Curkovic et al. 2013).

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