This episode is the first of a two-part series on Business English vocabulary related to risk management. In this lesson, we’ll take a look at risk management in the business world.
Risk: Is the idea that certain events or situcion can poytencially bring losses to a company.
Critical Event: Is anything that happens which is potentially damaging to business.
Volatility: Is the tendency to change - for better or worse - suddenly or surprisingly
Natural Disaster: Is an event in nature that causes destruction, damage or social problems.
Corporate Governance: Related to how well a company is managed.
Compliance: Following rules, regulation and laws is compliance.
Due Diligence: When we do all the necessary research before making a decision, we are performing due diligence.
Exposure: Is how much risk you face
Risk Appetite: The amount of risk or the level of exposure, that company is willing to accept is its risk appetite.
Public Scrutiny: Is close examination or study. Is when the public looks closely at a person or company to see whether their behavior and ethical or legal.
Diagnose: it's the process where we try to find the causes of or reasons for that problems or situation that face us
Critical Incident Analysis: Is a set of techniques that are used to find and solve problems in a company or a system.