Risks and Risk Management

Abstract

Risks are threat factors that commonly cause problems in organization operations, especially working in the age of globalization and rapid changes. At the same time, if the organizations do not want to take risks, just maintaining their status quo, it is likely that they might face more difficult problems or even worse, not function totally. So, the new era administrators should know and be able to handle risks, at least, in some extends in order to lead the organizations to meet the objectives with minimum risks as much as possible. This article, although it might not cover all we need to know on risks, should provide basic understanding and foundation on the topic and assist management to minimum risks. The coverage of the article includes the basic understanding of risks, risk management definition and processes, and some guidelines on each step of risk management processes. Details are as follows.