Risk Management
Risk management is a strategic process by which organizations identify, analyze and manage potential threats to their goals. This can include assessing financial, business, regulatory and legislative risks and more. It involves recognizing the risks, understanding what they mean, and finding ways to avoid or minimize them. It helps organizations make smart choices and adapt to the business world.
Purpose of risk management
Risk management applies in all industries and at all levels of an organization, from small businesses to large multinational corporations. Its role is to ensure that an organization remains resilient and future-proofed by looking ahead and responding quickly to potential problems. Risk management is applied by using methods such as risk analysis, risk assessment, risk mitigation and risk insurance.
