Understanding Risk Attitude and Risk Tolerance
Discussion Topic: Understanding Risk Attitude and Risk Tolerance
Retrieve and read the article “Understanding risk attitude.” Based on what you've read, your experience in risk management, and any other resources you care to utilize, discuss the following questions.
How can stakeholders’ risk attitude impact the risk management processes?
How do risk attitude and risk tolerance differ?
Reminder: A high quality post is one that explicitly links your personal opinion or experience with the course materials or other relevant outside sources using proper APA format. Both in-text citations and a reference list are required for this discussion. You may earn up to 10 points. I will use the attached rubric to grade your participation.
Discussion Post
Author’s Name:
Institution of Affiliation:
Course Name:
Instructor’s Name:
Date:
Discussion Post
How can stakeholders' risk attitude impact the risk management processes?
Over the years, interest has increased regarding risk attitude among stakeholders. One of the questions the individuals have been asking is whether the risk attitude impacts the risk management process. The risk attitude refers to a situation where the person avoids or seeks risk in varying situations (Hillson & Murray-Webster, 2004). The risk attitude has affected the stakeholders in varying ways. For example, most of the risk-seeking stakeholders have mastered the art of identifying more risk as compared to the risk-averse stakeholders. The following approach has affected the degree of the information required for the