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  • Importance of Risk Analysis and Management – The Case of Australian Real Estate Market

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    80773_1.pdf (548.6Kb)
    Author(s)
    Tularam, Gurudeo
    Attili, Gowri Sameera
    Griffith University Author(s)
    Tularam, Gurudeo A.
    Attili, Gowri Sameera S.
    Year published
    2012
    Metadata
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    Abstract
    Life is full of risks for example risk is involved in simple things like turning on the gas at home or when dealing with life threatening medical emergency decisions. Risk plays an important role in the way we manage our economy, organization or our family. Risk can be rather complex when household money is involved; such as for individuals or families - for example, mums and dads stand to either gain or lose large sums of money. The types of risks involved influence decisions on how to manage or invest money in shares, bonds or property. When faced with risks, the challenge is how well prepared are we to overcome ...
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    Life is full of risks for example risk is involved in simple things like turning on the gas at home or when dealing with life threatening medical emergency decisions. Risk plays an important role in the way we manage our economy, organization or our family. Risk can be rather complex when household money is involved; such as for individuals or families - for example, mums and dads stand to either gain or lose large sums of money. The types of risks involved influence decisions on how to manage or invest money in shares, bonds or property. When faced with risks, the challenge is how well prepared are we to overcome risks. Risk awareness may be limited in which case there is a high likelihood of risk turning into hazard -leading to disastrous outcomes. Successful businesses make constant efforts to change or update their in house administrative polices and frameworks to allow for possible risks in their business requirements. Some decisions that are likely to have been factored into the component of risk are: rigid corporate governance requirement, human resource planning, succession planning, training and development, merger and acquisitions, adapting to different cultures, foregoing or discontinuing some existing products, outsourcing, new market development etc. No matter how important a decision is made, strategic alignment is critical in business decision making. New ideas should be implemented according to the business needs a company. The introducing of novel ideas should involve all personnel particularly during the decision making processes of development and setting of targets. A well-managed business is also well prepared one and thus able to confront challenges of the modern dynamic business environments.
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    Book Title
    Risk Management – Current Issues and Challenges
    Publisher URI
    http://www.intechopen.com/
    DOI
    https://doi.org/10.5772/50669
    Copyright Statement
    © The Author(s) 2012. The attached file is posted here with permission of the copyright owner[s] for your personal use only. The online version of this work is licensed under a Creative Commons License, available at http://creativecommons.org/licenses/by-nc-sa/3.0/
    Subject
    Mathematical Sciences not elsewhere classified
    Publication URI
    http://hdl.handle.net/10072/50356
    Collection
    • Book chapters

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