7 risk mitigation strategies to protect business operations

To address risks, threats and vulnerabilities, they must be identified, validated and analyzed to determine the likelihood of an occurrence and its effect on the enterprise’s business processes, employees and financials. A priority list should be created to rank each risk according to the likelihood of occurrence and severity of the impact on the enterprise. A high-probability event, for example, that has little or no impact on the enterprise, such as an employee calling in sick for one day, will be treated differently than a low-probability, high-impact event like an earthquake.