Subsequently, the risk manager accomplishes the process through a coordinated and economical application of facilities to curtail, screen, as well as to control the likelihood and the upshot of the uncertain events. The aim of managing risks is maximizing the achievement of opportunities. For instance, the Mode Sante Company aims at maximizing the opportunity attributable to Active Being Complex through effective risk management frameworks. In so doing, Mode Sante firm will assure improbability does not diverge the endeavor from the business goalmouths. For the successful launch and subsequent operation the Active Being Complex, the Mode Sante must start by identifying the risks associated with this venture. The self-theories of risk management will form a major part of the discussion to help the firm manage the identified risk.
The self-theories are relevant to this case due to its reciprocal relationship with the risk management. Indeed, many businesses have failed to manage risk due to the difficulty of adequate risk identification. There is a need to showcase the psychological constraints attached to risk identification in comparison to the practical procedure outlined the ISO phase.
As individuals become more confident of particular self-view, they can do everything to confirm and sustain such self-view which may be limit the risks identifiable by the work groups. The self-theories are, therefore, an efficient counteractive measure against such constraints. As outlined in the ISO, risk is an uncertainty that might seem counterintuitive, Mode Sante risk managers must question their opinions about the quality of their risk management framework to assess the risks already identified. The self-worth theory is relevant in risk management as it ensures individuals struggle to maximize and safeguard their sense of competence to retain the self-worth.
Therefore, the likelihood of the employee strike, declined productivity, and excessive application of staff leaves will be eliminated through satisfactory motivation. The motivated employee will make causal attributions about the identification and analysis of risks.
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