Purpose and Benefits
By defining its risk appetite, an organisation can arrive at an appropriate balance between uncontrolled innovation and excessive caution. It can guide people on the level of risk permitted and encourage consistency of approach across an organisation.
A defined acceptable levels of risk also means that resources are not spent on further reducing risks that are already at an acceptable level.
Read more about this topic: Risk Appetite
Famous quotes containing the words purpose and/or benefits:
“Let our hearts, as subtle masters do,
Stir up their servants to an act of rage
And after seem to chide em. This shall make
Our purpose necessary, and not envious;
Which so appearing to the common eyes,
We shall be called purgers, not murderers.”
—William Shakespeare (15641616)
“While greedy good-doers, beneficent beasts of prey,
Swarm over their lives enforcing benefits ...”
—Robert Frost (18741963)