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Effectiveness of Risk Assessment Models in Business Decisions: Reinforcing Knowledge
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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