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Risk mitigation is a strategy to prepare for and reduce the
impacts of threats faced by a business. Comparable to risk
reduction, risk mitigation takes steps to reduce the negative
effects of threats and disasters on business continuity. Threats
that might put a business at risk include liquidity, credit,
geopolitical, cyberattacks, weather events, and other causes of
physical or virtual damage. Risk mitigation is one component of
risk management and its implementation will vary by
organization.
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