Vol. 11(2), pp. 29- 35, March 2023 , 2023.

ISSN: 2384-6151

https://doi.org/10.14662/ijebm2022005

 

 

Full Length Research

 

Impact of Risk Management on Organization Efficiency: An Evaluation of Isa Mustaph Agwai I Polytechnic Lafia Nasarawa State

 

1.Amos Anyesha Audu, 2.Mercy Asheadzi Daniel and 3Christiana L. I. Tanze

 

1&2 Department of Business Administration and Management, School of Administration and Business Studies, Isa Mustpha Agwai I Polytechnic P.M B. 109, Lafia- Nasarawa State 3Department of Accountancy, School of Administration and Business Studies, Isa Mustpha Agwai I Polytechnic P.M B. 109, Lafia- Nasarawa State  

 

 

 

Accepted 10 January 2023

Abstract

 

Risk management is the process of identifying, monitoring and managing potential risks in order to minimize the negative impact they may have cursed to organization. Examples of potential risks include security breaches, data loss, cyber attacks, system failures and natural disasters. It is important process because it empowers an organization with the necessary tools so that it can adequately identify and deal with potential risks. Once a risk has been identified, it is then easy to mitigate it. However, the research objectives is designed to determine the degree to which risk can be managed effectively in the organization after identification, the risk is analyze and suggested ways of managing the risk in a cost effective manner was adopted. While, the research adopted a research survey method as it designed. The research used simple percentage as it statistical techniques in analysis, and it concluded that risk management environment and adequate internal controls have the highest impact on financial performance of organization. Thus, any amount invested in risk measurement techniques, risk management environment techniques and internal control increases revenues generation to yhe organization. while, the financial performance of organization increases. Therefore organizations need to put more efforts in risk management practices in order to improve its organizational performances. The research recommend that Nigeria organization should expound their risk measurements techniques and adopt more technical reliable measures so as to adequately manage the risks resulting from the increased financial innovations in the organizations and ensure their risk management policy, Procedures and practices and streamline within the global standards.

 

Keywords: Risk, Risk Management, Efficiency, Organization and Evaluation.

 

Cite This Article As: Amos, A.A., Daniel, M.A., Tanze, C.L.T (2023). Impact of Risk Management on Organization Efficiency: An Evaluation of Isa Mustaph Agwai I Polytechnic Lafia Nasarawa State. Inter. J. Econ. Bus. Manage.11(2): 29-35