Question

Risk reduction in industry grade 8​

Answer 1

Densely populated residential areas should be separated far away from the industrial areas.

People staying in the vicinity of industries should be aware of the storage of toxins or hazardous substances and their possible effects in case if an accident occurs.

Fire warning and fighting system should be improved.

Storage capacity of toxic substances should be limited.

Pollution dispersion qualities in the industries should be improved.

Answer 2

Nowadays business world is constantly changing. It is unpredictable, volatile and fraught with risk. Risk assessment provides a mechanism for identifying which risks represent opportunities and which represent potential pitfalls. Done right, a risk assessment gives industrial companies a clear view of variables to which they may be exposed, whether internal or external, retrospective or forward-looking, qualitative or quantitative. A good risk management takes a broad perspective on identifying the risks that could cause a company to fail to meet its strategies and objectives.