Risk management is essential to the success of every company
In business, understanding and managing risk is crucial for success. Risk refers to the potential loss that may occur when a threat exposes a vulnerability within an organization. To thrive, businesses must take calculated risks while also recognizing the importance of risk mitigation. This article explores various risk-related concerns, including compromised business functions, business assets, the cost of risk management, profitability, and survivability. It emphasizes the need for a comprehensive risk management program to protect businesses from potential losses and ensure their long-term success.