The extract beneath offers a summary of the movements that would assist to avoid a repeat of the global financial crisis. Many organizations lack a not unusual risk management framework throughout the organization. This has many factors, every of that is required to help keep away from similar screw-ups in destiny:

4 Measures to help prevent the recurrence of the global financial crisis

  • First, there should be standard methods, terminology, and practices for managing risks of all kinds
  • Second, risk tolerances must be fully explained, communicated and monitored across the enterprise.
  • Third, risk management practices should be combined into all key business processes and decisions.
  • And, fourth, management should make risk-related decisions applying dedicated high-quality risk data

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