What kinds of risk mitigation strategies are used in risk management?
Risk management involves identifying and analyzing risks that could have detrimental impacts on your business before they cause problems. In the risk management world, there are four main risk mitigation strategies: risk acceptance, risk transference, risk avoidance and risk reduction. The nature of the operation, product or specific risk that it poses will determine which of these four strategies is the best to apply to it. Risk Acceptance […]
