What are the different risk management strategies?

by | Feb 19, 2021 | CompTIA, Exclusive Articles, Governance, Risk and Compliance, Information Security

Business Risk Management Strategies

There are different types of business risks. Every business should have risk management strategies to identify, assess or prioritize the risks and monitor, minimize or control the impact of the risks. If business risks are not managed effectively, it may lead to loss of productivity and revenues or even cause the business to fail.

There are four types of effective business risk management strategies:

  • Risk Acceptance
  • Risk Avoidance
  • Risk Transference
  • Risk Mitigation

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Amrita Mitra

Author

Ms. Amrita Mitra is an author, who has authored the books “Cryptography And Public Key Infrastructure“, “Web Application Vulnerabilities And Prevention“, “A Guide To Cyber Security” and “Phishing: Detection, Analysis And Prevention“. She is also the founder of Asigosec Technologies, the company that owns The Security Buddy.

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