how have risk management been swallowed by cultural values
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All the Joint Commissioner ofCommercial Taxes(Appeals) in the State. Copy to : 1) Additional Chief Secretary, Finanace DepartmentVidhana Soudha, Bangalore for information.
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The process of risk management creates certain values by providing specific opportunities needed for preventing a misfortune from happening.
EXPLANATION:
Many organizations are averse to risks with their culture of hierarchical processes, a number of approvals, different forms of controls having long procedures and policies. These methods hamper the process of risk management.
It is necessary for an organization to have a culture imbibed in them for understanding the importance of risk management. The processes and culture stifle the process of managing risks effectively. The value proportion of risk gets diminished in these scenarios.
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