Get an AnswerExplain decision making heuristics, bias and risk preference. Assess how the existence of decision making heuristics, bias and risk preference impacts the analysis and management of riskSmart Writing ServicesOctober 25, 2017 7:40 amOctober 25, 2017Previous ArticleAnalyse how business risk differs from risk in general. Evaluate the components of business risk. Using various academic/theoretical viewpoints argue and justify a case for (or against) any one individual component having a higher priority over one or more componentsNext Article'Risk managers should mainly focus on the consequences of an event rather than its likelihood as these consequences determine the impact on the business.' Examine the interaction between likelihood and consequences and develop an argument both for and against the statement. Your commentary should contain a critical argument with a brief introduction, stating where you stand and how you argue your case, the two cases (for and against) and then finish with a conclusion. Include an analysis of the role of a business risk manager offer some conclusions as to how prominent the role of the business risk manager should be within the wider management of the business, i.e. when compared with other management functions such as strategy, governance, product development, marketing, finance, operations, etc. Justify how you reached your conclusions
