Risk mitigation is a strategy to prepare for and reduce the impacts of threats faced by a business. Comparable to risk reduction, risk mitigation takes steps to reduce the negative effects of threats and disasters on business continuity. Threats that might put a business at risk include liquidity, credit, geopolitical, cyberattacks, weather events, and other causes of physical or virtual damage. Risk mitigation is one component of risk management and its implementation will vary by organization.
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