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Business Risk Governance
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[QUOTE="Holicent, post: 306120, member: 76163"] Business risk governance refers to the system of policies, procedures, and practices put in place to identify, assess, and manage risks in a business. It involves creating a framework for decision-making and ensuring that risks are managed effectively throughout the organization. Effective risk governance helps businesses to operate with greater confidence, transparency, and accountability, while also reducing the likelihood of negative outcomes such as financial loss, legal liabilities, and reputational damage. By establishing clear lines of communication and accountability, and by involving all stakeholders in the risk management process, businesses can create a culture of risk awareness and responsiveness that enhances their overall resilience and success. [/QUOTE]
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