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Risk management aligns with a company's overall business strategy in several ways. Firstly, it helps in identifying potential threats and vulnerabilities that could impact the company's objectives and goals. This allows the company to prepare and implement mitigation strategies to minimize the impact of these risks. Secondly, risk management aids in decision-making processes by providing a framework for evaluating the potential risks and rewards of various strategic options. Lastly, it promotes a proactive approach to managing uncertainties, which can enhance the company's resilience and adaptability in a volatile business environment.
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When COVID-19 crept up on the world, companies like Apple ended up being "especially vulnerable because of their large customer base in China and the dependence of their supply chain on Chinese manufacturers," Amiyatosh Purnanandam, professor of finance at the Ross School of Business, University of Michigan, writes in his article for Forbes.
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Set expectations and be prepared for different outcomes at all times. Our Risk Management presentation allows you to outline ways to monitor and contr...
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