Risk management is better approach for modern organizations

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Reference no: EM132226700

After explaining all of the above, explain WHY Risk Management is a better approach for most modern organizations? Explain this response very clearly. Can ANY organization practically and realistically survive the costs of trying to reduce ALL RISK to the absolute MINIMUM level? Is it even possible for ANY organization to reduce ALL RISK to the absolute MINIMUM level, what does this actually mean, and is this the same as fully eliminating ALL RISK entirely? Explain clearly. Considering your responses, can you realistically (NOT theoretically) think of ANY organization(s) that should adopt a "risk minimization" strategy, rather than an approach of “risk management” (to minimize the IMPACT of threats)?” Clearly explain and justify your answers.

Reference no: EM132226700

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