Production
Statistics & Risk Management
Production
Statistics & Risk Management
First, let's review the definition of Financial Risk Management. Financial risk management can be defined as the practice of creating economic value in a organization by using financial instruments such as hedging and insurance to manage exposure to risk. It can be qualitative or quantitative. Financial Risk Management is a specialization of risk management that normally focuses on two key areas which include credit risk and market risk. FRM involves three main steps: identifying its sources, measuring it, and developing plans to deal with them. In the following section we will discuss what production is and why it is important.
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