If you were tasked with performing risk assessment in your organization, how would you proceed? Can every threat be planned for? Why or why not?
If you were tasked with performing risk assessment in your organization, how would you proceed?
Can every threat be planned for? Why or why not?
Note- As per Bartleby guidelines the solution is being generalized.
Risks and uncertainties are part and parcel of the business lifecycle. Whether the organization is small or large, newly incorporated or been operating for a long time it has to encounter different types of risks.
Risk management helps to evaluate and manage uncertainties and risks in the business. It is a process of identifying possible threats in advance. Risks can arise from financial uncertainties, strategic management issues, technological issues, legalities, and natural disasters. Risk treatment and risk assessment are important to achieve business goals and objectives.
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