31000risicomanagement
31000risicomanagement refers to the process of identifying, assessing, and controlling threats to an organization's capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents, and natural disasters. Effective risk management aims to minimize the impact of these potential negative events.
The process typically involves several key stages. First, risk identification seeks to discover all potential risks
Following assessment, risk treatment strategies are developed. These may include risk avoidance, where the organization decides
Finally, risk monitoring and review are crucial to ensure that the implemented strategies remain effective and