ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Risk management also examines the relationship between risks and the cascading impact they could have on an organization’s strategic goals. This holistic approach to managing risk is sometimes described as enterprise risk management because of its emphasis on anticipating and understanding risk across an organization.

Detailed explanation-2: -In business, risk management is defined as the process of identifying, monitoring and managing potential risks in order to minimize the negative impact they may have on an organization. Examples of potential risks include security breaches, data loss, cyberattacks, system failures and natural disasters.

Detailed explanation-3: -The 4 essential steps of the Risk Management Process are: Identify the risk. Assess the risk. Treat the risk. Monitor and Report on the risk.

Detailed explanation-4: -Risk exposure management refers to the ability of mortgage lenders to reduce the risk of mortgage delinquency. This means improving closing cycles and enhancing property valuation models that are paramount to growing top-line revenue.