Define what is meant by risk management

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Assignment: A human resource professional, as we have learned, has many disparate duties and responsibilities. One of the duties that is increasing in its importance is risk management. In fact, this duty was once a central part of a human resource professional, but now many mid-to-large organization have created a separate department-reporting to the human resources director-devoted to risk management. In the following discussion question, discuss the following:

Define what is meant by "risk management" in a typical organization.

Assess how the responsibility of "risk management" has morphed/grown over the past 10 years for both a human resource professional and an organization.

Finally, discuss why an effective risk management program is of critical benefit for employees, not simply for their own physical and mental well-being, but how/why an effective risk management program can lead to a more productive and rewarding work environment.

References used in lecture:

Bogodistov, Y., & Wohlgemuth, V. (2017). Enterprise risk management: A capability-based perspective. The Journal of Risk Finance, 18(3), 234-251.

Clarke, J. E. (2017). Wait-and-see strategy: Risk management in the internationalization process model. Journal of International Business Studies, 48(8), 923-940.

Dabbebi, O., Badonnel, R., & Festor, O. (2015). An online risk management strategy for VoIP enterprise infrastructures. Journal of Network and Systems Management, 23(1), 137-162.

Soltanizadeh, S., Abdul Rasid, S. Z., Golshan, N. M., & Wan Ismail, W. K. (2016). Business strategy, enterprise risk management and organizational performance. Management Research Review, 39(9), 1016-1033.

Hudgins, V. (2019). ADA lawsuits are on the rise, website complaints biggest targets. Legaltech News.

Institute of Risk Management. (2019). About risk management.

Lucas, S. (2019). Why are employment discrimination lawsuits rising so rapidly? The Balance Careers.

United States Courts. (2019). Federal judicial caseload statistics 2017.

Reference no: EM132392934

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