A3: What is Risk Management?

Instituto Politécnico Nacional Escuela Superior de Comercio y Administración Unidad Santo Tomás

MajorAccounting

English Subject Complement Risk Management

Students' Name

Group5CM4

• Arrellano Valencia Jesús Antonio 100% • Cruz Carrera José Alberto 100% • Flores Aguilar Tonatiuh 100% • León Muñoz Jhoana Rubí 100% • Martínez Melo Ximena 100%

Teacher's NameMaría Belen Vazquez Conde

Delivery DateSeptember 10th, 2023

Team #2

What is Risk Management?

Process

Identifying

Forecasting

Assessing

Controlling

Analyzing

Different situations that could happen to a company.

Threat

Risk

Possibility of something bad happening

-Malicious or Negative event

-Effect of Uncertainty on Objectives

Effect

Opportunity

Threat

Risk and Threats

Legal Liabilities

Strategic Management Errors

Human Error

Natural Disasters

Digital Risk

The development of companies is more digital and now there are more risks with their information and investments

NOW!

Account hacking

Frauds in buying and selling

Unsafe websites

Why is it important?

Prepare for eventualities

Empowers a business

Make safe decisions

Identify and Deal

Reduce the posibility

Advantages

Disadvantages

Treatment Minimization New opportunities Protecting resources Successful business

Complex calculations Potential threats Unmanaged losses Difficulty in implementing

lan

Assess and Evaluate

Define Potential

Establish Context

Monitor Risks

Identify Risks

Communicate Shareholders

Analyze Risks

Mitigate Risk

Strategies

Risk Retention

Risk Transfer

Risk Reduction

Risk Avoidance

Finally

Proper risk management enables teams to minimize exposure and potential extra costs.

• Large amounts of data
• Experience
• Time
• Money

Thank you for your Attention!!!