How can a risk management philosophy provide consistency in risk attitudes throughout an organization?

Question

Quizplus · Accepted Answer

A well-developed and articulated risk management philosophy outlines the organization's overall approach to risk and provides guidance on how to manage risks in a consistent and effective manner across all levels of the organization. This helps to create a shared understanding of risk attitudes and approaches, preventing conflicting attitudes and ensuring consistency in risk management practices. Anticipating all possible risks, providing event-specific examples, and setting employee expectations can also be useful strategies in risk management, but they are not sufficient on their own to provide consistency in risk attitudes throughout an organization.

How Can a Risk Management Philosophy Provide Consistency in Risk