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Key risk indicators are metrics used by organizations to provide an early signal of increasing risk exposures in various areas of the enterprise. It differs from a key performance indicator (KPI) in that the latter is meant as a measure of how well something is being done while the former is an indicator of the possibility of future adverse impact.
Performance indicators differ from business drivers and aims (or goals). A school might consider the failure rate of its students as a key performance indicator which might help the school understand its position in the educational community, whereas a business might consider the percentage of income from returning customers as a potential KPI.
Strategic risk is the risk that failed business decisions may pose to a company. [1] Strategic risk is often a major factor in determining a company's worth, particularly observable if the company experiences a sharp decline in a short period of time. Due to this and its influence on compliance risk, it is a leading factor in modern risk ...
The Global Business Travel Association's education and research arm, the GBTA Foundation. found in 2015 that most businesses covered by their research employed travel risk management protocols aimed at ensuring the safety and well-being of their business travelers. [64] Six key principles of travel risk awareness put forward by the association ...
A performance indicator or key performance indicator (KPI) is a type of performance measurement. [21] KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. [22]
Business risk implies uncertainty in profits or danger of loss and the events that could pose a risk due to some unforeseen events in future, which causes business to fail. [ 1 ] [ 2 ] [ 3 ] For example, a company may face different risks in production, risks due to irregular supply of raw materials , machinery breakdown, labor unrest, etc.
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