Risk Management
The process of identifying, assessing, and controlling threats to an organization's capital and earnings.
Business Glossary provided by Plannit.ai
Risk management is the practice of identifying potential risks in advance, analyzing them, and taking precautionary steps to reduce or curb the risk. It covers a wide range of areas such as financial risks, legal liabilities, strategic management errors, accidents, and natural disasters. Effective risk management can lead to the stability of business operations and reduces the possibility of negative impacts on the financial and reputational standing of a company.
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