Risk Management

Risk Management
Risk Management

The process businesses go through that includes analyzing the pure risks they face, gauging the likelihood of financial loss involved in those risks, and taking steps to minimize or manage them through risk management.

Some ways that companies handle risk management are through avoiding risk, retaining it, reducing or transferring it. This is usually accomplished using safety measures, an insurance purchase or self-insurance. These methods help eliminate the likelihood of loss and keep the company financially stable.

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