Risk management is necessary to mitigate potential threats to an organization from "summary" of Fundamentals of Management (For B.Com, BBA, BBM and BMS) by J.P. Pathak
Risk management plays a crucial role in safeguarding an organization from potential threats that may hinder its operations or lead to significant losses. By identifying, assessing, and addressing risks, management can proactively protect the organization's interests and ensure its long-term sustainability. The process of risk management involves analyzing various factors that could impact the organization's objectives, such as market conditions, regulatory changes, financial instability, or natural disasters. By understanding these risks, management can develop strategies to mitigate their potential impact and prevent them from escalating into cr...
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