Effective risk management requires a proactive approach:
Foster a Risk-Aware Culture: Leaders should promote a culture where employees are encouraged to identify and communicate potential risks. Leverage Technology: Utilize risk management software and data analytics to identify and monitor risks in real-time. Engage Stakeholders: Regularly engage with stakeholders to understand their perspectives and involve them in risk management processes. Continuous Learning: Encourage continuous learning and improvement by analyzing past risk events and learning from them.