THE ROLE OF RISK MANAGEMENT POLICIES IN ACHIEVING BUSINESS OBJECTIVES
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Abstract: THE ROLE OF RISK MANAGEMENT POLICIES IN ACHIEVING BUSINESS OBJECTIVES
This study explores the role of risk management policies in achieving business objectives. Objectives include identifying critical risk management policies, assessing their effectiveness, and evaluating their impact on business stability and growth. A survey design is used to gather extensive data from risk managers and business leaders. The sample size, determined using Taro Yamane's formula, includes 340 respondents, ensuring a 95% confidence level. The research focuses on the financial services sector in Lagos, a key area for risk management. The reliability coefficient score for the survey instrument is 0.88, indicating high reliability. Findings indicate that comprehensive risk management policies are essential for achieving business objectives by mitigating risks and ensuring stability. The study recommends that businesses should implement robust risk management frameworks to navigate uncertainties and achieve long-term goals.
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