Safety
the state of being safe or relatively free from harm or other non-desirable outcomes
Risk
the possibility of loss, injury, or other undesirable outcomes.
Risk Avoidance
When a business decides not
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Safety
the state of being safe or relatively free from harm or other non-desirable outcomes
Risk
the possibility of loss, injury, or other undesirable outcomes.
Risk Avoidance
When a business decides not to produce high-risk products or enter uncertain markets
Risk retention
The covering of a firm's unavoidable losses with its own funds
Risk transfer
buying insurance to shift the risk of financial loss to an insurance company
Risk reduction and control
primarily the role of EHS departments
Risk equation
Hazard severity X probability of exposure
Risk Assessment
the process of estimating the probability of injury from a hazard
Hazard analysis
identifies the potential hazards that exist without putting a value on the risk associated with the hazards
Abatement
to put an end to something that is finite in quantity
mitigation
to lessen a hazard that can keep developing in certain conditions
Total Recordable Incident Rate
(# of injuries x 200,000)/# of hours worked
McGregor's 3 management theories
Theory X, Theory Y, Theory Z
Theory X
Employees detest work and must be pressured, monitored, and pushed toward organizational goals with rewards and punishment
Theory Y
The assumption that employees like work, are creative, seek responsibility, and can exercise self-direction.
Theory Z
a management philosophy that stresses employee participation in all aspects of company decision making
Herzberg Two-Factor Theory
There are two factors that affect motivation in the work place: Hygiene factors and motivating factors
Hygiene factors
Extrinsic factors like salary, status, challenging work, and benefits
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