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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 objectives. It encompasses market analysis, which involves evaluating external factors such as competition, economic trends, and customer preferences that may affect a company's success. A key component of risk management is conducting a SWOT analysis to identify a business's strengths, weaknesses, opportunities, and threats. This enables the organization to make informed decisions and take proactive measures to mitigate potential risks and capitalize on opportunities. Ultimately, effective risk management helps ensure the long-term sustainability and success of a business.