Simple English definitions for legal terms
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Term: Risk Management
Definition: Risk management is a way to prevent bad things from happening to a business. It's like having a plan to keep the business safe and protect it from accidents or mistakes that could cause problems.
Risk Management
Risk management refers to the procedures or systems that are put in place to reduce the chances of accidental losses, especially in a business setting.
These examples illustrate how risk management involves taking proactive measures to minimize the negative impact of potential risks on a business. By identifying and addressing potential risks, businesses can protect their assets, employees, and reputation.