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Completeassignment30 Dec, 2022Education

Risk management is a defined and structured procedure for identifying, addressing, and managing uncertainties in business operations. It calls for implementing specific strategies and methodologies for monitoring threats that may hamper business prospects in the longer run. The concept can be categorized into two parts; risk assessment, which deals with developing strategies to assess the potential risks in day-to-day operations, and risk mitigation refer to the proper usage of resource management to achieve the ultimate business vision.