Introduction to risk management and circularity

Introduction to risk management and circularity

Business risks are potential events or circumstances that can negatively impact an organisation's ability to achieve its objectives. These risks develop from various uncertainties in the business environment and can lead to financial losses, operational disruptions, legal challenges, reputational damage and much more.

Effective risk management involves identifying, assessing, and mitigating risks to ensure business continuity and success. The latter typically comes from accurate predictability and consequently, accurate and timely strategic decision-making and tactical adjustments. Such a competence is one desired outcome of systematic and diligent risk identification and assessment process.