Risk and Reward: The Importance of Risk Management
Risk management is the art of identifying, assessing, and controlling potential risks that may arise during the implementation of business operations, projects, or activities. The objective of risk management is to minimize the negative impact of risks while maximizing the opportunities for growth and profitability. In today’s rapidly changing business environment, risk management has become an integral part of organizational strategy and decision-making process. Effective risk management is increasingly important…