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Title: Risk Leveling - an organised risk management approach

Authors: Shahid Rasheed; Faiza Yaqub; Chang Feng Wang; Suhail Memon; Bruno Rafael Dias De Lucena

Addresses: Pakistan Telecommunication Company Ltd., Islamabad, Pakistan ' NPCC, National Transmission Dispatch Company Ltd., Islamabad, Pakistan ' School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing, China ' School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing, China ' Federal University of Para, Campus of Abaetetuba, Para, Brazil

Abstract: Macro environments acquire ever more significance in the growing business worlds. Whereas the industrial enterprises assume greater controls in managing their internal environs, the evident responsibility of governments is to regulate the business surrounding risks, to optimise the external environments, and to deliver poses that are conducive to business. In such context, this paper presents a specialised approach - Risk Leveling - which embraces a focused risk management concept as well as an explicit risk management methodology. Risk Leveling accentuates upon organised and efficient consumption of available resources to achieve balanced risk postures in the business contagious environment. The ultimate intent of Risk Leveling is not only to cut the risks to business acceptability limits but to also ensure that mutual risk parities are conserved. Such intent is pursued through an organised procedure which employs a mix of analysis tools and philosophies including the AHP and the ALARP. By settling the contextual risks to business acceptability bounds, Risk Leveling aims to facilitate the regimes in regulating the macro business environments for wellbeing of business.

Keywords: risk management; macro business environment; Risk Leveling; organised approach.

DOI: 10.1504/IJRAM.2018.090266

International Journal of Risk Assessment and Management, 2018 Vol.21 No.1/2, pp.135 - 153

Available online: 26 Feb 2018

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