MANAGEMENT

Detailed explanation-1: -Risk mitigation is a strategy to prepare for and lessen the effects 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 (BC).

Detailed explanation-2: -There are four common risk mitigation strategies. These typically include avoidance, reduction, transference, and acceptance.

Detailed explanation-3: -Risk mitigation is a process to approach inherent and inevitable risk in business. The goal of risk mitigation is to minimise the impact of the effect of risks that do occur. To mitigate risks, the first step is to be able to identify and then assess their potential likelihood and impact.

Detailed explanation-4: -SWOT analysis is a risk management technique to measure the strengths, weaknesses, opportunities, and threats of a project to help identify all the potential risks. You can start the SWOT analysis by determining the strengths of your project or business to identify any positive risks.