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:
“Any historian of the literature of the modern age will take virtually for granted the adversary intention, the actually subversive intention, that characterizes modern writing—he will perceive its clear purpose of detaching the reader from the habits of thought and feeling that the larger culture imposes, of giving him a ground and a vantage point from which to judge and condemn, and perhaps revise, the culture that produces him.”
—Lionel Trilling (1905–1975)
“While greedy good-doers, beneficent beasts of prey,
Swarm over their lives enforcing benefits ...”
—Robert Frost (1874–1963)