Introduction To Risk Management
The process of discovering, evaluating, and controlling risks to an organization's resources and profits is known as risk management. These risks or dangers could be caused by a wide range of things, such as unforeseen financial circumstances, legal obligations, poor strategic management, mishaps, and natural disasters. Digitalized businesses now place a high focus on risk management techniques to reduce data-related hazards and IT security threats. As a result, a company's methods for identifying and controlling threats to its digital assets—including confidential business information, personally identifiable information about customers, and intellectual property—are increasingly included in risk management plans.
An effective risk management programme aids a business in taking into account all potential risks. The relationship between risks and the potential negative cascade effects on the strategic objectives of an organization are also examined by risk management.
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