What are other ways to view risk?
What are other ways to view risk?
RISK MANAGEMENT: Risk management is the process of identifying, evaluating, and controlling the uncertain events, threats, and risks that have a direct or indirect negative impact on the performance and operations of the business. An organization can face multiple forms of risks such as capital risk, competition risk, product risk, profit risk, project risk, inventory risk, etc. Therefore, all these risks must be accessed at regular intervals so that they could be minimized or eliminated at the point of source. For this, the organization hires a team of risk management experts that are responsible for managing the uncertainties connected with the business operations. Effective risk management helps the business to minimize costs, boost profits, smoothen operations, and gain a competitive advantage in the market.
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