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Risk Management refers to the systematic process of identifying, assessing, and prioritizing risks in an organization with the goal of minimizing their impact on business operations, financial management, customer service, and other critical areas. It involves implementing strategies and measures to mitigate or eliminate potential threats, as well as monitoring and controlling existing risks to ensure they remain within acceptable levels. Effective risk management helps organizations protect their assets, reputation, and long-term sustainability by proactively addressing uncertainties and potential adverse events.