Reference no: EM133244370

Studies in the field state that traditional risk management is a reactive model that can be defined either as a managerial or administrative process or as a decision-making process. Risk management includes the integration of the four functions of management including planning, organizing, leading, and controlling the organization's activities to minimize the adverse effects of accidental and business losses of that organization at reasonable cost (Haring, 2004). In light of this statement, discuss risk financing and how it can be achieved at Sanlan Pvt Ltd.