Help me study for my Engineering class. I’m stuck and don’t understand.
1. What are the preconditions for conducting constructive dialogue in an organization?
2. Is effective risk management possible without constructive dialogue?
3. What are the forces that tend to undermine effective risk management in an organization?
4. Given its obvious value in helping an organization to understand the major risks that could prevent it from accomplishing its mission and objectives, why was the financial sector, including a risk-sensitive organization such as Goldman Sachs, so slow in adopting ERM?
5. If you are a bank examiner, what are the signals you would find that would show that a bank is engaging in good risk management?
6. If you are a bank examiner, what are the signals you would find that would show that a bank is failing to engage in good risk management?
1).preconditions for effective dialogue.
- open mindedness
- the participants must avoid any stereotype comments or any biases.
- the participants must have positive attitude towards each other until the end of the dialogue.
2.effective risk management can not be possible without constructive dialogue as it is through dialogue that people converse and agree on how to avert a process.
3.some of the forces which tends to undermine effective risk management includes;
- poor communication
- misunderstandings which may be personal or ideological
- biases and stereotype against other people’s ideas.
4.the financial sector was slow to adopt ERM due to the fact that they feared the hidden costs involved and since there was no effective dialogue among the involved parties, it became hard to execute the adoption.
effective dialogue is key to development as it inspires people to agree and work together towards achieving a course. dialogue must thus be made effective by eliminating barriers such as biases and wrong attitude.