Briefly Describe How the Risk Management Program at the Organization Where you Work
Briefly Describe How the Risk Management Program at the Organization Where you Work
Briefly Describe How the Risk Management Program at the Organization Where you Work
Briefly Describe How the Risk Management Program at the Organization Where you Work
HLT 308V Topic 1 DQ 2
Briefly describe how the risk management program at the organization where you work (or at that of a typical health care organization) addresses social media and patient information privacy. Provide three examples of risk management steps your health care organization (or another health care organization) could take to further protect patient information. Support your analysis with a minimum of one peer-reviewed reference.
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Briefly Describe How the Risk Management Program at the Organization Where you WorkRisk management is the process of identifying, assessing and controlling threats to an organization’s capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters. IT security threats and data-related risks, and the risk management strategies to alleviate them, have become a top priority for digitized companies. As a result, a risk management plan increasingly includes companies’ processes for identifying and controlling threats to its digital assets, including proprietary corporate data, a customer’s personally identifiable information (PII) and intellectual property.
Every business and organization faces the risk of unexpected, harmful events that can cost the company money or cause it to permanently close. Risk management allows organizations to attempt to prepare for the unexpected by minimizing risks and extra costs before they happen.
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Importance
Briefly Describe How the Risk Management Program at the Organization Where you WorkBy implementing a risk management plan and considering the various potential risks or events before they occur, an organization can save money and protect their future. This is because a robust risk management plan will help a company establish procedures to avoid potential threats, minimize their impact should they occur and cope with the results. This ability to understand and control risk enables organizations to be more confident in their business decisions. Furthermore, strong corporate governance principles that focus specifically on risk management can help a company reach their goals.
Other important benefits of risk management include:
- Creates a safe and secure work environment for all staff and customers.
- Increases the stability of business operations while also decreasing legal liability.
- Provides protection from events that are detrimental to both the company and the environment.
- Protects all involved people and assets from potential harm.
- Helps establish the organization’s insurance needs in order to save on unnecessary premiums.
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