Risk is likely one of the leading causes of uncertainty in any business. Therefore, more and more businesses today focus on identifying and managing risks before they impact their operations. Risk management is the process of creating a plan to identify, assess, and manage risks facing a business. For example, malicious individuals who could steal your intellectual property or harm your employees and your business can pose a risk to your company if appropriate measures are not taken. The goal of risk management is not to completely avoid risk. Instead, it is to have a plan to identify potential issues before they arise, monitor them, and address them. There are four fundamental steps in the risk management process. They are as follows:

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