1. Define the term RISK
A probability or threat of damage, injury, liability, loss, or any other negative occurrence that is caused by external or internal vulnerabilities, and that may be avoided through preemptive action.
2. Define the term RISK MANAGEMENT
Risk management is the process of identification, analysis and either acceptance or mitigation of uncertainty in investment decision-making. Essentially, risk management occurs anytime an investor or fund manager analyzes and attempts to quantify the potential for losses in an investment and then takes the appropriate action (or inaction) given their investment objectives and risk tolerance.
3. Define the term LEGISLATION and how it affects your role as a manager?
The process through which statutes are enacted by a legislative body that is established and empowered to do so.
Managers will need to ensure that workers are consulted and involved in any health or safety matter that will, or may, affect them. Workers should be given the opportunities to raise issues or provide ideas and feedback to you as their manager or through the WHS practitioners and senior leaders.
4. Define the term CODE OF PRACTICE and how it affects your role as a manager?
Written guidelines issued by an official body or a professional association to its members to help them comply with its ethical standards.
Your company's code of ethics encompasses the principles all employees are expected to follow. These principles are intended to guide your decision-making and workplace behavior. Ideally, a code of ethics will significantly impact your work practices, because you will follow the principles when at work, but how much impact a code has depends on how your company uses it.
5. Define the following term and how it affects your role as a manager – ADVISORY STANDARDS
ADVISORY STANDARDS are meant to be interpreted and applied to all types and sizes of organization according to the particular information...