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Erschienen in:
2011 | OriginalPaper | Buchkapitel
What is Risk Management
verfasst von : Michael Koller
Erschienen in: Life Insurance Risk Management Essentials
Verlag: Springer Berlin Heidelberg
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In order to understand the need for risk management it is necessary to look at the different building blocks of a holistic risk management. Figure 1.1 tries to decompose the risk management into its generic components. The overall aim is to manage the risks a company is facing. All employees in the company are expected to some larger or smaller extent to manage risks in order to limit a potentially adverse outcome and to generate profit and stability for the stakeholders of the company. The corresponding risk culture is of paramount importance. An open communication and a clear and unbiased view in respect of the risks are essential in order to become a professional risk-taker.