Reflections

Risk is a part and parcel of business; the uncertainty of the future, and the vagaries that this uncertainty causes in the business situation is one of the key aspects of planning at any level in an organization. The current book under review is my first book on Risk Assessment that I have taken up, in my attempt to understand why plans fail, and what is the nature of risks confronting an organization. Before I commence, let me underscore something – we in Organisations as well as in Management Education should place a lot more emphasis on understanding and evaluating risks than we do now. THE BOOK Risk Management – A Practical Guide by Sorin Dumitrascu is a practical approach, a guidebook of sorts, towards identifying and implementing Risk Management Procedures. This looks at a very basic approach, yet eminently practical. It introduces in a very succinct summary form some of the types of risk that confront an organization, in a basic bare categorization, and then moves ...