THE IMPACT OF RISK MANAGEMENT PRACTICES ON BUSINESS PERFORMANCE
- Project Research
- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
- Table of Content: Available
- Reference Style: Available
- Recommended for : Student Researchers
- NGN 3000
This research explores the impact of risk management practices on business performance. Objectives are: (1) to assess the effectiveness of risk management in mitigating business risks, (2) to analyze the relationship between risk management and business continuity, and (3) to identify key risk management strategies. A survey design is selected for its effectiveness in collecting quantitative data from a large sample. Using Taro Yamane's formula, the sample size is 350, ensuring comprehensive coverage. The study focuses on the financial services sector in Lagos, Nigeria, where risk management is critical. The reliability coefficient score is 0.88, indicating high consistency. Findings show that effective risk management practices significantly boost business performance by mitigating risks, ensuring business continuity, and enhancing resilience. Recommendations include prioritizing investment in advanced risk management systems and providing ongoing training to risk managers to maximize benefits.
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