Risk Management

Definition of Risk Management Hierarchical Category as it relates to Business, Business Administration

Risk Management is a discipline within Business Administration that involves identifying, evaluating, and prioritizing potential uncertainties or threats in business operations, followed by coordinated application of resources to minimize, monitor, and control the impact of unfortunate events or to maximize the realization of opportunities. It is a crucial aspect of successful business management, aiming to equip businesses with strategies and tools to mitigate losses and enhance business resilience.

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