The paper “ Future Trends in Risk Management - Technology Adoption Rationale and Methods of Risk Management in Anti-Terrorism” is a meaty example of a case study on the management. Risk management integrates the identification of risks, assessment of risk, and formulation of strategies to manage them and risk mitigation using the available managerial resources. Risk management notably focuses on risks ranging from legal and physical causes such as natural disasters, accidents, and death (Chew 2013). Risk management aims to minimize different risks to a domain pre-selected to an acceptable level. Threats related to risk is mainly caused by the environment, humans, technology, politics, and organizations.
Recently, risk management has become applicable in all aspects of business and corporate world incorporated into planning, safety, finance, and project risk management. According to @ risk management is the assessment and the mitigation of potential factors that are perceived to pose a threat to an organization, institution or business emerging from whatever origin. BackgroundIn the current corporate world, it is notable that all environments have become competitive and dynamic. Therefore, correct strategic decisions are required to ensure that appropriate direction is taken.
In human situations, private and public sectors and daily activities, it is apparently that risk present and unavoidable. Risk is in these contexts varies depending on outcome characteristics mainly neutral or adverse. It is basically the uncertainty surrounding future events and their outcomes (Frenkel, Hommel, Rudolf, & Duffey 2005)In addition, it entails consequences, impacts of specific events that have the potential of determining or influencing the accomplishment of certain targets or objectives. Globally, organizations in the context of risk management are useful in projects and considerations predetermined which may result in unwanted consequences.
It is now a current trend that organizations have shifted focus on the effective use of information to achieve their mission and objectives. Thus information system of any organization plays an important role in the effective and smooth running of operations. Regarding protection and sharing of information, national security, public and private sectors are now focusing on establishing risk management for terrorism. It is notable that terrorism is an evolving risk, thus governments have established anti-terrorism agencies to asses and mitigate risks resulting from terrorist activities. Terrorism evolution has been attributed to technology advancement and increased capabilities of terrorist groups.
Terrorism groups are familiar with the existing anti-terrorism strategies as well as their operation methods thus complicating further effectiveness of anti-terrorism strategies. These constant changes have complicated corresponding approaches and tools that anti-terrorism agencies use in addressing terrorism risks. Methods of risk management in anti-terrorismIn regard to anti-terrorism, the security of information in any government, organization or institution plays a vital role when it comes to risk management. Security information is important for the protection of these entities from terrorist attacks that can adversely affect them.
According to Frenkel et al (2005), an effective risk management process should have a successful information security program embedded in the underlying programs and strategies (Frenkel et al. 2005). Information technology as a tool needs to be incorporated into the organizational risk management process. Incorporation of information technology (IT) in organizational risk management should be regarded as a vital management function for its management teams and the organization at large. The corresponding methods to risk management in anti-terrorism concerning the protection of information through effective information technology systems entail reactive and proactive approaches.
A reactive approach is suitable for terrorism risks that have already occurred. This method enables organizations to analyze the causes of terrorism and security breaches to avoid repetition and coming up with the possible causes of the underlying terrorism risk (Crouhy, Galai, & Mark 2000).