Risk Management in Hospitality Industry Applied to Philippines
Explain what you have read in the attached paper provided after the question.
– Why is risk management considered to be a proactive management tool in managing a business?
– Among the right principles of effective risk management as stipulated in Philippine National standards 31000:2018, which do you think should be prioritized by a tourism related enterprise? Explain clearly and concisely.
– Why is recognition and describing a business risk important?
– Applying the definition of opportunity risk, why do you think that international chains of hotels and even local hotel chains are investing in. The Philippines?
