Inclusiveness is a fundamental principle of effective risk management as defined by the ISO 31000:2018 standard. This principle mandates the appropriate and timely involvement of stakeholders throughout the risk management process. By considering the diverse knowledge, perspectives, and perceptions of those involved or affected, an organization can achieve improved awareness and create a more robust and relevant risk management framework. This collaborative approach ensures that risks are comprehensively identified, analyzed, and treated, leading to better-informed decision-making and the successful achievement of objectives.

B. False: This is incorrect because ISO 31000:2018, the global guideline for risk management, explicitly lists "Inclusive" as one of the eight core principles for creating and protecting value.

1. International Organization for Standardization (ISO). (2018). ISO 31000:2018 Risk management — Guidelines. Section 4, "Principles". This section lists "Inclusive" as a key principle for effective risk management.

2. International Organization for Standardization (ISO). (2018). ISO 31000:2018 Risk management — Guidelines. Section 4.5, "Inclusive". This sub-clause specifies that "Appropriate and timely involvement of stakeholders enables their knowledge, views and perceptions to be considered. This results in improved awareness and informed risk management."

3. Lalonde, C., & Boiral, O. (2012). Managing risks through ISO 31000: A critical analysis. Risk Management, 14(4), 272-300. The paper discusses the principles of ISO 31000, including inclusiveness, as foundational to the standard's approach to managing risk effectively (p. 276). https://doi.org/10.1057/rm.2012.9

4. University of Queensland. (n.d.). Enterprise Risk Management Framework. The framework, based on ISO 31000:2018, outlines the university's commitment to the principles of risk management, stating, "Our risk management approach is... Inclusive: We engage with our stakeholders to understand their perspectives and involve them in decision-making." (Section 3.2, Principles).