What is Risk Tolerance?
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Risk acceptance is the process of determining that the potential benefits of a business function outweigh the possible risk impact or likelihood and further performing that business function with no other action even at the face of the risk.
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Risk tolerance is the acceptable level of variation that senior management is willing to allow for any particular risk while pursuing its objectives and strategies. Moreover, it is the amount of deviation from the organizational risk appetite a business considers acceptable. And it is the degree of risk an organization is willing to undertake as they stride to achieve their business objectives and strategies. Besides, it is the acceptable level of variation that senior management is willing to allow any particular risk to materialize as the enterprise pursues its organizational objectives.
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