Vocabulary list

to eliminate – ліквідувати, знищувати

possession – власність, майно

at the core – в основі

evaluate – оцінювати

a solid grasp – міцна хватка

delivery – постачання

to alter – змінюватись

injury – пошкодження, травма

employee – робітник

to reduce – зменшувати

to abuse – зловживати

to vary – різнитися

maintenance – обслуговування

revamping policies – політика оновлення

to rid of – позбавляти від

to refine – вдосконалювати

overall – загальний

schedule – розклад, графік, перелік

malfunction – несправність, поломка

negligence – халатність

II. Vocabulary exercises

1. Mach the words with their definitions:

1. risk management a. the activity of making money

2. to reduce b. someone who buys and uses goods and services

3. employee c. physical harm

4. business d. a worker

5. a solid grasp e. the way you hold something firmly

6. damage f. to make something smaller

7. consumer g. politically agreed actions oriented to modernization

8. revamping policies h. logical process that minimizes the level of

business risk

2. The words in the box frequently occur in front of or after "management"

buyout consultant risk management international crisis middle

Find combinations that mean:

1. someone who is paid to advise the management of a company how to improve their organization and working methods;

2. a situation when a company's managers buy the company they work for;

3. the activity of controlling and organizing the work under unusually difficult or dangerous circumstances;

4. a logical process or approach that seeks to eliminate or at least minimize the level of risk associated with a business operation;

5. the people in charge of small groups within an organization;

6. the process of managing resources (people, funds, inventories, and technologies) across national boundaries.

3. Fill in the blanks:

1. Risk management is a logical process or approach that seeks … or at least … the level of risk associated with a business operation.

2. … of effective risk … strategies is the desire to find ways to manage the degree of uncertainty that exists within any … enterprise.

3. Once there is … of how the … functions, it is then possible to move on to …that process … managing that uncertainty factor.

4. … management seeks to … the potential for injury to ...

5. Risk management … the opportunity for money and other forms of finance … or utilized ineffectively.

6. Risk management may also demand … and procedures in order … the company environment of … risk situations.

7. The … process of risk management will … from company to company.