Define some strategies to manage risk?

risks can be managed by either monitoring or improving them. mitigation is a core tool to guard against risks.this is in a way dependent on the type of risks one takles. there are stratigic , operational , financial , compliance and enviornmental risks. this is also dependant on the industry and geographical where one works. however, the risk management process will generally involve the following step:

* identifying and ranking the risks inherent in the company's strategy.

*selecting the appropriate risk management approaches.

* implementing controls to manage the remaining risks.

* monitoring effevtiveness of the risk management approaches and controls ; and

* learning the experience and making improvements.