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Our Correspondent

Namakkal, Feb. 8

Management students should take more interest in the study of risk management in business, the Vice-President (Operations), VSD Infotech, Mr M. R. Jambunaathan, has said.

He was speaking on Risk Management after inaugurating Business Line Club at Gnanamani Institute of Management Studies here recently. The programme was sponsored by Karur Vysya Bank (KVB). The concept of risk management was given more importance in almost all the organisations as it could be utilised to seize the opportunities for growth, he told the students.

“Risk is defined in ISO 31000 as the effect of uncertainty on objectives (whether positive or negative). Risk can come from various sources including external causes and natural events,” he said.

The strategies to manage risk include transferring the risk to another, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk.

The organisations prepare plans to effectively manage the risk and to reduce the negative impacts. A good risk management plan should have appropriate controls or counter-measures to measure each risk, he said.

Mr Jambunaathan asked the students to develop a good understanding about risk management in business as it would help them in their career in business administration. KVB Assistant General Manager, Mr S. Raghunathan, explained the services extended by banks for the benefit of students.

Gnanamani Educational Institutions Chairman, Mr T. Arangannal, presided. The Chief Executive Officer, Mr K. Vivekanandan; Gnanamani College of Technology Principal, Mr K. Thirunavukkarasu spoke. The Department Head, Mr S. Ashok Kumar, was present.

More Stories on : Education | BL Club | Tamil Nadu

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