MBA risk management basics course. the key to dealing with risk — whether in the form of natural disaster, theft, property damage, personal injury, and so on — is to anticipate it and have a plan in place for dealing with it. risk management is the process of understanding and anticipating risks and then taking steps to minimize its impact on a business and the people within it. you can — and should — manage risk to protect your company. in fact, many insurers make the development of a risk management process or plan a condition of granting insurance coverage. no risk management process can prevent every possible setback from occurring, but a good risk management process can minimize the financial loss your business will suffer, as well as help prevent injuries and death. before you can effectively manage the risks that your organization is or will be exposed to, you need to understand the specific risks you’re up against. the goal of vulnerability analysis is to assess the probability and potential impact of the different risks that you identify.
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risk management overview 00:06
managing risk 02:32
vulnerability analysis 07:42
taking action 17:25