Frameworks for Risk Management


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Introduction
There are different disasters that organisations face, some of which they can’t prevent or block, such disasters vary from economical to political, as they go beyond the organisation itself but are rather macro environment. While some risk disasters may be prevented, they need to be supplemented by different Information and Knowledge management tools.

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Information management as a form or reducing risk disasters
The Information and Knowledge management have become an important part of our life’s, as they provide us with ways in which we can manage and control risk. It provides decision makers with the correct knowledge to make informed decision. These risks may differ, one of them being disasters. Information and knowledge have a positive impact in terms of reducing disaster from occurring within any organisation. Information and knowledge provide us with the necessary knowledge to avoid any disasters from occurring by classifying it as a treat.
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Knowledge risk management
Knowledge risk management is essential in terms of providing us with solutions that are related to conventional risk management. Knowledge provides individuals with an advantage of what to expect in terms of any risk that may occur, thus making risk learnable which will lead to the capture of the knowledge, which can be used in terms of reducing risk that may occur in the form of disaster. Knowledge increases the objectivity of an individual by means of training them on how to process the risk.

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Knowledge management continued
Knowledge Management is another tool which has proven handy in terms of reduction of risks that may lead to disasters in firms and individuals. It provides individuals the ability of distributing credible information or data that they may use as a form of decreasing any risks of disasters, it grants organisations with strategies and ways in which they can minimize or reduce risks. This allows organisations to be productive, thus having customer satisfaction and retention.

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FUN FACT 🙂🙂🙂🙂

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