Relationship of strategic and tactical objectives with acceptable risk level
This article illustrates the relationship of strategic and tactical goals with the risk management system, explains the risk appetite and acceptable levels of risk in strategic and operational management. A prerequisite for effectively identifying potentially risky events, assessing the risk of a strategy for a timely response to risk is the setting of strategic goals and their cascading. The goals should correspond to the risk - appetite of the organization, which determines the acceptable level of risk for the organization, measures the relationship of strategic goals with the acceptable level of risk. The examples show how risk assessment affects the choice of strategy and tactical goals of all functional divisions of the company, how the company's mission is related to its strategic goals, strategies and tactical goals, how risk appetite is assessed in terms of market indicators.