How does an organization measure and evaluate the risk it faces, and what tools does it have to
address these risk ?
Answers
Answer:
Manage risk
Every business faces risks that could present threats to its success.
Risk is defined as the probability of an event and its consequences. Risk management is the practice of using processes, methods and tools for managing these risks.
Risk management focuses on identifying what could go wrong, evaluating which risks should be dealt with and implementing strategies to deal with those risks. Businesses that have identified the risks will be better prepared and have a more cost-effective way of dealing with them.
This guide sets out how to identify the risks your business may face. It also looks at how to implement an effective risk management policy and program which can increase your business' chances of success and reduce the possibility of failure.
The risk management process
The types of risk your business faces
Strategic and compliance risks
Financial and operational risks
How to evaluate risks
Use preventative measures for business continuity
How to manage risks
Choose the right insurance to protect against losses
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