Risk is part of business. When an organization wants to grow, they need to take risks for their development. An effectively managed risk, help the organizations to achieve the goals and definitely it will minimise their threats and maximise their potential.
Risk Management refers to the preparation of identifying the potential risks in advance, analyzing them and taking preventive steps to curb the risk. Risk Management also involves identifying the kind of risk exposure within the organization and measuring those potential risks or mitigate some of the risks and estimate its impact on the future operations of the business.