Selecting the most appropriate risk treatment means balancing the costs of

Selecting the most appropriate risk treatment means

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Selecting the most appropriate risk treatment means balancing the costs of implementing each activity against the benefits derived. In general, the cost of managing the risks needs to be commensurate with the benefits obtained. When making cost versus benefit judgements the wider context should also be taken into account. 6. What can an enterprise agreement include? A nominal expiry date A nominal expiry date is the date from which an agreement can be: replaced by another agreement or terminated. A dispute settlement procedure A dispute settlement procedure clause will set out the resolution process for any disputes about matters arising under the agreement. A flexibility term A flexibility term, which permits you and your employees to vary the effect of the agreement to suit both your needs, must specify the terms of the enterprise agreement that may be varied. A consultation term A consultation term requires you to consult with employees about major changes that are likely to significantly affect them. Other mandatory requirements Enterprise agreement must also:
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be in writing;be in English;state the parties to the agreement; andbe signed by the bargaining representatives to the agreement.7. What skills and knowledge would managers need to effectively implementPlanningPlanning is the fundamental management function, which involves deciding beforehand, what is to be done, when is it to be done, how it is to be done and who is going to do it. It is an intellectual process which lays down an organisation's objectives and develops various courses of action, by which the organisation can achieve those objectives. It chalks out exactly, how to attain a specific goal.Emotional IntelligenceEmotional intelligence refers to the ability to control emotions or high emotional intelligence. Although it does not replace the measurement with numerical scales like IQ, it can be understood through some scientific methods.Lover and IQ are not opposites. Some people are fortunate to have both a higher IQ and a higher emotional quotient, while others have only one of them. Researchers have been working hard to understand how emotional quotient and intelligence quotient complement each other, for example, how a person's ability to cope with stress makes his concentration of intelligence calledintelligence put into practice.In predicting human success, it is easier to understand emotional intelligence than the intelligence level of a person measured by an IQ test and other standardized achievement tests.can take appropriate ways to improve people's ability to regulate emotions, control emotions, so that emotional quotient factors are conducive to improving work efficiency and personal successMonitoring:Motivation is the word derived from the word ’motive’ which means needs, desires, wants or drives within the individuals. It is the process of stimulating people to actions to accomplish the goals. In the work goal context the psychological factors stimulating the people’s behaviour can be -desire for moneysuccessrecognitionjob-satisfactionteam workOne of the most important functions of management is to create willingness amongst the employees to perform in the best of their abilities. Therefore the role of a leader is to arouse interest in performance of employees in their jobs. The process of motivation consists of three stages:-A felt need or driveA stimulus in which needs have to be arousedWhen needs are satisfied, the satisfaction or accomplishment of goals.Therefore, we can say that motivation is a psychological phenomenon which means needs and wants of the individuals have to be tackled by framing an incentive plan.
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