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Effectiveness of Risk Assessment Models in Business Decisions: Reinforcing Knowledge
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Author(s): K. Madhu Kishore Raghunath (National Institute of Technology, Warangal, India)and S L Tulasi Devi (National Institute of Technology, Warangal, India)
Copyright: 2018
Volume: 10
Issue: 2
Pages: 19
Source title:
International Journal of Sociotechnology and Knowledge Development (IJSKD)
Editor(s)-in-Chief: Lincoln Christopher Wood (University of Otago, New Zealand)and Ahmad Taher Azar (College of Computer & Information Sciences, Prince Sultan University, Riyadh, Saudi Arabia & Faculty of Computers and Artificial Intelligence, Benha University, Benha, Egypt)
DOI: 10.4018/IJSKD.2018040103
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Abstract
Survival being the rationale for every organisation, there are infinite dynamics which contribute to every organisations growth and survival. Weighing in all the dynamics available, if organisations have to contemplate on the one which acts as catalyst for ultimate survival it is business decision making process. Risk is an inherent ailment that exacerbates organisational decision making ever since the dawn of industrialization, with their reach proliferating ever since. In the present article, the authors articulate the effectiveness of risk assessment models on key business decisions to testify how risk models operate in isolation and when combined together. Authors also analyse the significant effect risk models have on business decision, which serves as justification for organisational efficiency.
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