Organizations encounter many interior and exterior parameters that influence the extent to which the business can meet its mission, vision, and objectives. The economic environment has been uncertain and companies can attempt to reduce their risks and define mechanisms of proceeding with their activities if the forecasted risk happens. It is important to note that most uncertainties are caused by risks, making the organizations to focus more on the risk management mechanisms (Cervantes-Cabrera & Carmen, 2018). When companies make their objectives without identifying their risks, they will lose their focus.
Aug 5, | proper writer