What are the Goals of Risk Management in Business?

[Suba]

In general, risk management is created to prevent losses that may occur either due to internal company or external parties or due to nature. But unfortunately many business owners do not anticipate the losses that will occur, so that greater losses often occur. Here are some of the goals of risk management in business:

1. A framework that is adjusted to risk.
2. As a warning or alert sign
3. Improve business performance.
4. Be more proactive in reducing risk etc.

 

[King Belieal]

The goals of risk management for a business is to ensure that a business doesn't get to experience shocks that can close it down.

 

[Stardom22]

As of me the risk management in business aims at mitigating the occurrence of the potential risks that might cause some losses on the business. This would probably promote optimized profit generation on the entire business for that matter.