QUESTION

(i) Risks come in all shapes and sizes, risk professionals should be able to recognize the major drivers of risk an organization may have to face
Illustrate with the use of examples, four main types of risk that a typical company may face.

(ii) A manager with the responsibility for enterprise-wide risk may experience some difficulties to stay on top of all the various risks. A practical solution would be to make risk a part of every employee's thinking and job responsibility. General employees need to be taught to recognize and assess risks in ways that are relatively easy to understand

Describe six risk concepts (that is questions that a risk manager will ask when assessing risk) which will apply to the risk of most type of business and which must be addressed by any effective risk management process