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Strategic Risk Management involves identifying, assessing, and prioritizing risks that could potentially hinder an organization's ability to achieve its strategic objectives. It focuses on developing strategies to mitigate these risks and ensure the organization is prepared to handle any potential threats to its success. This process involves analyzing both internal and external factors that could impact the organization's strategic goals, and implementing measures to proactively manage and minimize these risks. By effectively managing strategic risks, organizations can enhance their decision-making processes, strengthen their competitive position, and safeguard their long-term sustainability.