Answer to 3 questions (each questions maximum 500 words

| May 16, 2019


Answer to 3 questions (each questions maximum 500 words) Question 1. The principle “as far as reasonably practicable” is used as a regulatory benchmark target for the obligation to reduce risk to an acceptable level. Discuss the implications for loss prevention, how it should be applied and your opinion on any difficulties or limitations that have to be considered in applying it in a business. Question 2. Select a risk management tool your are familiar with and discuss its key features, how it should be applied and its limitations. Question 3. Haimes (2009) suggested that management systems fail for a number of reasons he described as “sources of failure”. In relation to your business, or a business with which you are familiar, discuss the implications of these failures types in relation to the policies, procedures and systems in place. Your response you should explain the features of your company’s loss prevention arrangements.

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