Compare and evaluate risk management techniques from experts in the field. Go to the Ashford University Library and find one article by Dr. James Kallman. Dr. Kallman, an expert in the field of risk management, has written many articles on managing financial risk. Find a second article in the Ashford University Library from another credible author of your choice who also provides recommendations for risk management.
Develop a three- to four-page analysis, of the techniques Dr. Kallman has identified for managing risks.
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Write My Essay For MeKallman (2008) identified various techniques that are adopted by managers to practice effective risk management. His identified techniques included government mandates, education and training, information management, contractual transfer, and operations management. Kallman (2008) advocates risk management through government mandates. He proposes that through government regulations, statutory laws and court orders, fair and safer social economic systems are attained. Employment laws, for example, are critical in reducing the probability that injured employees will engage in legal battles with their employers seeking compensation. State worker’s compensation guideline establishes the standard practice to be followed if such an event occurs. Other laws such as Sarbanes-Oxley Act reduces the probability of shareholders’ dividend legal battles…
In this analysis, compare Dr.Kallman’s techniques to the techniques recommended in the second article you researched.
Dorfman (2007) identified four risk management techniques that include risk avoidance, risk reduction, risk sharing and risk retention. In risk avoidance, Dorfman urges that organization should avoid engaging in activities that are likely to cause loss. This is a different approach from Kallman operational management that assumes that even risky activities should be undertaken with proper management. Though risk avoidance is critical in mitigating losses, it has disadvantages in that, the company may lose potential gain by not engaging in a risky activity. This technique may not present as the best technique because avoiding risky business opportunities translate into reduced profitability. Example of risk avoidance is a decision not to open a company branch in an area prone to…
Explain why you agree or disagree with each authors’ recommendations. Describe other factors you believe should be considered in risk management. The assignment should be comprehensive and include specific examples.
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