The COSO Framework for Internal Control
February 12, 2025
Negotiation is defined as a discussion among individuals to reach to a conclusion acceptable to one and all. It is a process where people rather than fighting among themselves sit together, evaluate the pros and cons and then come out with an alternative which would be a win win situation for all. Sam wanted to […]
In 1960, Douglas McGregor formulated Theory X and Theory Y suggesting two aspects of human behaviour at work, or in other words, two different views of individuals (employees): one of which is negative, called as Theory X and the other is positive, so called as Theory Y According to McGregor, the perception of managers on […]
When individuals find it difficult to adjust with each other, the best way is to sit together and discuss among themselves and adopt the middle path. Instead of fighting with each other, it is better to discuss things and come to an alternative benefiting all. Negotiation takes into account the personal interests of all and […]
Why the Corporate Journey is like a Game of Snakes and Ladders All organisations, big or small, have power centres and interests with differing agendas. In addition, especially in large firms, there are multiple power centres and senior executives with agendas of their own who jockey for the available resources and promotions to them and […]
“Wow Factor” is about achieving harmony or a balance between the distinguishable qualities, your new passions, and strengths. The wow factor is the USP that distinguishes you from others and attracts attention. A lot of us hardly bother to analyze what their wow factor could be, but the fact is that all of us possess […]
A risk management plan can never be perfect. However, the degree of its success depends upon risk analysis, management policies, planning and activities.
A well-defined management plan can be successful only if risks are properly accessed. And if not, the main objective of risk management plan itself is defeated.
Critical evaluation of a risk management plan at every stage is very necessary especially at an early stage. It will allow companies to discover the flaws before it gets into the action.
Once you’re through the process, you can address the issues and then introduce it.
The below mentioned steps can help in analyzing and evaluating a risk management plan:
Evaluating a risk management plan sometimes can be very frustrating. It is definitely a time consuming process and also requires more of human efforts. Therefore, it is always better to analyze and evaluate a plan at every stage otherwise it will result in wastage of time, finances and efforts. In order to keep a check on it, specialized teams of risk managers can be appointed. The whole event can be outsourced to a risk management firm. The professionals at the firm can help you design, develop, implement and evaluate a risk management plan for your company.
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