The Importance Of Risk Management In Management

1655 Words7 Pages
1.0. Introduction: Risk taking is inherent in any society. There is no growth or value creation in a company without taking risks. If they are not properly managed and controlled, these risks can affect the ability of the company to achieve its objectives. Continuing to prevent and manage the risks, the risk management and internal control systems play a key role in the conduct and management of different activities. The overall ‘control’ in management roles are to secure the objectives of the company, enable leaders to have a comprehensive and shared vision of the main threats and missed opportunities of the company, allocate financial, human and technology to real business issues. Control measures must be carried out with the help of your…show more content…
Justification: Long considered strategic value because of its importance, management control has become the cornerstone of the fact that it is a source of progress of potential improvement for all types of businesses. This is a feature that is designed to motivate responsible for, and to encourage them to carry out activities contributing to the objectives of the organization. It is a response to a number of business problems for which finding solutions is clear: rising costs, and disruption of services within the…show more content…
The internal processes measures correlate with the customer experience while also establishing individual accountability. The internal metrics will include individual handle times based upon the outcome of the call, the number of times a caller is required to call back into the call center, the number of times a call is placed on hold, individual agent call independence, and accuracy of information. To assist in the monitoring of quality as well of valuable training assistance, auditing phone conversations between the call center representatives and the consumer would be another form of control to use. Due to the nature of the call center, it poses a great challenge to physically monitor the day-to-day performance of the representatives. Because not everyone adheres to the policies and procedures of the company, it would serve as a benefit to document the conversations, both exceptional and poor, use the information for training and disciplinary purposes. Many large corporations, like Verizon Wireless and Bank of America, provide disclaimers that some of the calls made by customers to the call center will be recorded for quality and training purposes. Although the vast amount of phones that are actually recorded

More about The Importance Of Risk Management In Management

Open Document