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An organization is considered successful when it places goal commitment as the essential variable. One of the most important advantage that communication has as a risk mitigation tool is that it helps in the execution of safety measures and prevention of accidents as the employees are already been communicated about any problems they could face in the completion of tasks assigned to them. When the managers and authoritative figures workers gain the understanding of the ways that could be used for the organizational support improvement, they strive to make communication about risk management as a major tool for the risk mitigation. Hence, whichever organization makes use of the mentioned tool; it surely gets improved outcomes as a consequence. Other advantages that the discussed mitigation tool of communication has are that "the employee will exhibit support of organizational goals, demonstrate quality job performance, experience reduced strain, have an increased desire to remain, and demonstrate a noticeable decrease in withdrawal behaviors such as absenteeism" (McCune, Hsiao & Kostelnik, 2012). In simple words, the idea of communication as a risk mitigation tool can be very well presented as a moral obligation for the provision of maximum security to the employees. To cut a long story short, candidness in supervision and a team's frame of mind and way of thinking can be of assistance to everyone in the organization...
Useful data can be acquired with the documentation of policies and procedures. Such risk mitigation tools as discussed above can let businesses to make the most of business opportunities that may perhaps come into view as very risky. The eventual purpose of risk management is the sales and profits growth with the cash flow maximization and bad debt losses minimization simultaneously. It is important to mention here that they are not commonly limited progressions but focused and keen management practices are also required. Although the mitigation tools discussed above have certain disadvantages but they are not much hazardous. It means that both the mitigation tools are mostly advantageous as communication is never unhelpful and credit policy paves better ways for the customers.
References
McCune, S.S., Hsiao, R., & Kostelnik, R. (2012). Organizational Support and Communication: A Case Study of a New Risk Management Tool for University Aquatic Supervision. International Journal of Aquatic Research and Education, 6, 215-225.
Stokes, D. (2010). Credit Policy: A Strategic Risic Mitigation Tool. Business Credit, 1, 18-20.
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