Abstract
In order to understand the need for risk management it is necessary to look at the different building blocks of a holistic risk management. Figure 1.1 tries to decompose the risk management into its generic components. The overall aim is to manage the risks a company is facing. All employees in the company are expected to some larger or smaller extent to manage risks in order to limit a potentially adverse outcome and to generate profit and stability for the stakeholders of the company. The corresponding risk culture is of paramount importance. An open communication and a clear and unbiased view in respect of the risks are essential in order to become a professional risk-taker.
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© 2011 Springer-Verlag Berlin Heidelberg
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Koller, M. (2011). What is Risk Management. In: Life Insurance Risk Management Essentials. EAA Series. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-20721-1_1
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DOI: https://doi.org/10.1007/978-3-642-20721-1_1
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-20720-4
Online ISBN: 978-3-642-20721-1
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