Question
Describe general characteristics of risk assessment.
Answer :
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Risk management basically means the identification and mitigation of losses. It is a systematic process by which an organization identifies, analyzes, prepares and reduces losses.
Apart from that, it also focuses on helping a business find profitable opportunities. Every business organization faces unavoidable influence from its external and internal environments.
Management of risks reduces the chances of such factors affecting an organization negatively. Managers can either avoid or reduce a risk or even transfer it to another entity.
Management of
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