Advantages of the risk profiling
Write a short note on the advantages of the risk profiling?
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The most apparent advantage of risk profiling is its truly comprehensive, cross discipline and planned approach. Risk profiling gives for transparent, comparable and reliable assessment of risk across all portions of the business. The company wide picture of risk is built up and this addresses the varying and competing risk priorities which numerous large businesses can face. The procedure is tailored to individual businesses as each and every company is distinct and thus each will face a distinct risk profile for an entire variety of reasons. The prioritization procedure permits for the focus of what are frequently scarce resources on the key risks that might influence the goals and objectives of a specific business. The other benefit is that the on-going and flexible nature of procedure as well permits for the identification and integration of the new or evolving risk issues to the system.
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