What Is Risk Mitigation ? And Why Is It Important?

Risks are inevitable in business. Businesses must reduce their exposure to risks and find ways to mitigate them to remain competitive in business. Identification and acknowledgement of risks that affect the operations, profitability, security, or reputation of the business is the first step. Developing strategies to mitigate these risks is the next and the most essential step! Risk mitigation is an important step in risk management that includes identifying the risk, assessing the risk, and mitigating the risk.

What is a Risk Register? What are the Key Elements of a Risk Register?

Every business has some inherent risks that it must deal with. As the name suggests, a risk register forms a central repository for all risk-related information for an organization. This includes the type of risks, the impact they may have on an organization, and the risk management plans of the company.

What is Business Continuity Risk ?

Business continuity risk refers to threats that disrupt the functioning of a business. These threats maybe any untoward incidents or disasters that negatively impact an organization.

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