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Risk Management

The process of identifying, assessing, and controlling threats to an organization’s capital, assets, and profits to mitigate negative impacts. It involves techniques like risk avoidance, risk acceptance, risk transfer through insurance, risk spreading, loss prevention, etc. to address various financial, operational, strategic, compliance, and other risks a company faces.

For example, Coca Cola conducted a risk survey with 300 questions to identify potential risks perceived by local leadership.