Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
In the midst of the Euro-crisis, the Economist means that no news is bad news. The worst of the crisis seems to over, and gone are the panic-stricken sessions of last year. Today, Europe’s leaders note, reform is under way across most of the euro zone and some southern European countries are regaining their competitiveness….
America and the European Union have a chance to achieve something large: a transatlantic pact that could likely liberalize a third of global trade. Done right, it could ensue a transatlantic tipping-point of an economic model favouring openness, free markets, free peoples and the rule of law over the closed, managed visions of state capitalism. Right…
Reuters reports on the newly found fracking culture war – which is now making its way to Hollywood. As for not so long ago, fracking was a technical term little known beyond the energy industry. But according to Reuters, now it’s coming to Hollywood in the face of the fierce battle between environmentalists and oil…
Italy has issued a warning to those who may be tempted to act irresponsibly in their professions. In April 2009, L’Aquila – a city in Italy – was devastated by an earthquake that ended up killing 309 people. Unfortunately, had 7 men tasked with estimating the risks of this earthquake taking place done their jobs…
Reuters reports on the dangers of pharmacies that mix or alter drugs without proper federal oversight. As it stands, the safety and efficacy of drugs made by these “compounding pharmacies” make for red alerts. Dr. Steven Galson, a top official at the Food and Drug Administration, has shed some light on the risks from an industry that’s now…
Gone are the days when Beijing was considered one of the more pleasant capitals of the world. Something terrible and life-threatening is literally overshadowing its parks, centuries-old palaces, history and culture. The grey fog which is covering Beijing is caused by copious amounts of chronic air pollution, which now ranks the city as one of the worst…
