{"id":840,"date":"2019-08-13T22:55:50","date_gmt":"2019-08-13T22:55:50","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/?post_type=chapter&#038;p=840"},"modified":"2024-04-25T01:45:59","modified_gmt":"2024-04-25T01:45:59","slug":"introduction-to-risk-management","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/chapter\/introduction-to-risk-management\/","title":{"raw":"Introduction to Risk Management","rendered":"Introduction to Risk Management"},"content":{"raw":"<h2>What you'll learn to do:\u00a0Discuss human resource management risk management<\/h2>\r\nThe International Organization for Standardization (ISO) defines risk as the \u201ceffect of uncertainty on objectives.\u201d[footnote]\"<a href=\"https:\/\/www.praxiom.com\/iso-31000-terms.htm\" target=\"_blank\" rel=\"noopener\">ISO 31000 2018 Plain English Definitions<\/a>.\" Praxiom Research Group Limited. Accessed August 20, 2019.[\/footnote] In the introduction to its risk management standard\u2014ISO 31000\u2014the organization notes that \u201crisks affecting organizations can have consequences in terms of economic performance and professional reputation, as well as environmental, safety and societal outcomes. Therefore, managing risk effectively helps organizations to perform well in an environment full of uncertainty.\u201d[footnote]\"<a href=\"https:\/\/www.iso.org\/iso-31000-risk-management.html\" target=\"_blank\" rel=\"noopener\">ISO 31000 Risk Management.<\/a>\" ISO.org. Accessed August 20, 2019.[\/footnote] In this section, we\u2019ll identify risks associated with human resources activities and how to manage them.<img class=\"alignnone wp-image-2384 size-full\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/4056\/2019\/08\/11232910\/photo-1477959858617-67f85cf4f1df-e1573515111616.jpeg\" alt=\"Decorative image.\" width=\"1110\" height=\"370\" \/>","rendered":"<h2>What you&#8217;ll learn to do:\u00a0Discuss human resource management risk management<\/h2>\n<p>The International Organization for Standardization (ISO) defines risk as the \u201ceffect of uncertainty on objectives.\u201d<a class=\"footnote\" title=\"&quot;ISO 31000 2018 Plain English Definitions.&quot; Praxiom Research Group Limited. Accessed August 20, 2019.\" id=\"return-footnote-840-1\" href=\"#footnote-840-1\" aria-label=\"Footnote 1\"><sup class=\"footnote\">[1]<\/sup><\/a> In the introduction to its risk management standard\u2014ISO 31000\u2014the organization notes that \u201crisks affecting organizations can have consequences in terms of economic performance and professional reputation, as well as environmental, safety and societal outcomes. Therefore, managing risk effectively helps organizations to perform well in an environment full of uncertainty.\u201d<a class=\"footnote\" title=\"&quot;ISO 31000 Risk Management.&quot; ISO.org. Accessed August 20, 2019.\" id=\"return-footnote-840-2\" href=\"#footnote-840-2\" aria-label=\"Footnote 2\"><sup class=\"footnote\">[2]<\/sup><\/a> In this section, we\u2019ll identify risks associated with human resources activities and how to manage them.<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2384 size-full\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/4056\/2019\/08\/11232910\/photo-1477959858617-67f85cf4f1df-e1573515111616.jpeg\" alt=\"Decorative image.\" width=\"1110\" height=\"370\" \/><\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-840\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Introduction to Risk Management. <strong>Authored by<\/strong>: Nina Burokas. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: Pedro Lastra. <strong>Provided by<\/strong>: Unsplash. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/unsplash.com\/photos\/Nyvq2juw4_o\">https:\/\/unsplash.com\/photos\/Nyvq2juw4_o<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/cc0\">CC0: No Rights Reserved<\/a><\/em>. <strong>License Terms<\/strong>: Unsplash License<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section><hr class=\"before-footnotes clear\" \/><div class=\"footnotes\"><ol><li id=\"footnote-840-1\">\"<a href=\"https:\/\/www.praxiom.com\/iso-31000-terms.htm\" target=\"_blank\" rel=\"noopener\">ISO 31000 2018 Plain English Definitions<\/a>.\" Praxiom Research Group Limited. Accessed August 20, 2019. <a href=\"#return-footnote-840-1\" class=\"return-footnote\" aria-label=\"Return to footnote 1\">&crarr;<\/a><\/li><li id=\"footnote-840-2\">\"<a href=\"https:\/\/www.iso.org\/iso-31000-risk-management.html\" target=\"_blank\" rel=\"noopener\">ISO 31000 Risk Management.<\/a>\" ISO.org. Accessed August 20, 2019. <a href=\"#return-footnote-840-2\" class=\"return-footnote\" aria-label=\"Return to footnote 2\">&crarr;<\/a><\/li><\/ol><\/div>","protected":false},"author":17,"menu_order":13,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Introduction to Risk Management\",\"author\":\"Nina Burokas\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"\",\"author\":\"Pedro Lastra\",\"organization\":\"Unsplash\",\"url\":\"https:\/\/unsplash.com\/photos\/Nyvq2juw4_o\",\"project\":\"\",\"license\":\"cc0\",\"license_terms\":\"Unsplash License\"}]","CANDELA_OUTCOMES_GUID":"0d21e114-c8da-426f-8f36-815ab76ee7d9","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-840","chapter","type-chapter","status-publish","hentry"],"part":825,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/users\/17"}],"version-history":[{"count":8,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/840\/revisions"}],"predecessor-version":[{"id":3410,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/840\/revisions\/3410"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/parts\/825"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapters\/840\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/media?parent=840"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/pressbooks\/v2\/chapter-type?post=840"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/contributor?post=840"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-humanresourcesmgmt\/wp-json\/wp\/v2\/license?post=840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}