Risk assessment and management is a critical business discipline that enables organizations to make informed decisions to mitigate threats and capitalize on opportunities. The process involves identifying potential internal and external risks (financial, operational, strategic, compliance-related), assessing their potential impact and likelihood, and developing strategies to manage them. These strategies can include avoiding the risk, reducing its negative effect, transferring it to another party (e.g., through insurance), or accepting some or all of its consequences. This field is integral to corporate governance and is practiced across all industries to ensure stability, resilience, and long-term value creation.

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