The importance of classifying risk relates to the duration of its impact on business continuity: short, medium, or long. Review the FIRM and PESTLE models of Risk Classification Systems in Chapter 11. How do you see them contributing to organizational Risk Management? Would either be appropriate for any type of organization (hospital, bank, nuclear power plant, Disneyworld, etc?)

Hopkin, Paul. (2017). Fundamentals of Risk Management, 4th Edition.Philadelphia, PA:Kogan Page(ISBN:978-0-7494-7961-9) (E-ISBN: 978-0-7494-7962-6)