Week 4: Case Study Group: FEP-KLTSA Business Challenge
Week 4 Good concept and tools for risk management; ways to manage risk as an entrepreneur in current digital world I ntroduction of risk management and example of good concepts The process of recognizing, evaluating, and mitigating risks to an organization's assets, profits, and operations is known as risk management. Competing in any industry involves some sorts of risks, these can be financial, legal, digital or any other issues companies face in today's world. The risks that moderating organizations face have grown more complex as globalization has increased. One of the most well-known instances is SpaceX, which was on the verge of bankruptcy but is now valued at over $100 billion as a result of their excellent risk management. The reason behind risk management is not avoiding risks, but it is to know which risk is with taking and what will get you closer to your goals. Executives in many businesses monitor their risk management initiatives and work to maintain them at