response to the following with 300 words APA style
The success of risk management depends on the correct identification of a risk, its impact and the formulation of a strategy that is appropriate towards its mitigation. The process of risk management allows companies to identify risks, the exact way the business will be impacted and thus come up with ways to mitigate such risks and any that are similar to such identified risks.
There are various methods used in risk analysis, and categorization, the focus for this discussion is the FIRM approach and the PESTLE analysis. The former is aimed at addressing the strategic implications of risk. This means that the approach looks at risk in terms of its potential impact on the strategy of the firm, or a project. On the other hand, the PESTLE analysis examines risk in a broader sense and would be favorable in an elaborate environment with long-term goals. PESTLE is usually utilized alongside a SWOT analysis to give a clear picture of the threats and weaknesses of a business. This model is advantageous as it enables a business to think about future strategies and available opportunities (Hopkin, 2010).
References
Hopkin, P. (2010). Fundamentals of risk management: Understanding, evaluating, and implementing effective risk management. London: Kogan Page.
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Achiever Papers is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Dissertation Writing Service Works
First, you will need to complete an order form. It's not difficult but, if anything is unclear, you may always chat with us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order formOnce we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignmentAs soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download