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With this, survival of the company is a benefit for the risk manager. Second, promotes continuous improvement meaning it is a big help to a risk manager to have an endless advance of ideas or thinking for possible challenges or struggles that may encounter the firm. It implies here, the alertness and cautiousness and the saying “prevention is better than cure”. Third, is the quick grasp of near opportunities, the risk manager must be familiarize with the history background, the current situation and the future plans of the company so when changes knocks whether in difficult or easy way expect lights on the risk. With this, implies the saying the “opportunity knocks once”, and so better to grab ideas that depends upon the favourable juncture for the whole system or section of the enterprise. Fourth, it enhances communication between units, that in every firm there are different units or sectors with their specific function that a risk manager should communicates and coordinates with one another to put on confidence and the ability that they will feel the acquaintance and accommodation of the risk management that will make the staffs easy to discuss matters towards their concern and be able to give proper address and the best ways to solve it. With this, harmonious relationship within the firm will develop and trust will be gained that will bring teamwork that can lead to grasp of the objective and be implemented. Lastly, reassuring stakeholders meaning in risk management will bring guarantee to the owners or cooperates that everything is functioning properly and well handled. Give assurance that all is well monitored from machines, personnel and building structures to attract more investors and even clients too.

I therefore conclude that in risk management it implies a mutual relationship. It is a give and take relationship within the firm to achieve the success. Teamwork and socialization are beneficial factors to be efficient in risk management. There must be unity and open to ideas of others to have the great answer in every question.

a. Reviewing of Activities and Internal Environment.

In risk management, reviewing of activities and internal environment is a critical inspection or examination should be done that surrounds the firm. It includes the conditions, situations and influences for the external factor and the internal factor. The internal factors in a hospital are the staffs and the clients otherwise the patients are the external. Coordinates to every part of the department in the organization to be able to review what are necessary works that lacks or needed for the satisfaction of the client.

b. Setting objectives

In risk management setting objectives is to be familiar in the objectives or aim of the company. Perception and experience may help. As a risk manager appoint or assign level of plans but make sure that it correlates within the objective of the owner. Consider not only one’s part but the total welfare aimed by the firm. Simply, have a goal that does not contradicting or conflicting the main goal to avoid worst probability output.

c. Event identification

This is the first step in risk management the event identification which is to know what is happening in the company. Be prepared, address it properly to the person and have a right plan procedure for unwanted events for the company. Plan well not to break down.