Identify Risks: Begin by identifying all possible risks. This can be done through brainstorming sessions, industry research, and consultations with experts. Assess Risks: Evaluate the probability and impact of each risk. This helps in prioritizing which risks need immediate attention. Develop Mitigation Strategies: Create plans to mitigate identified risks. This could involve diversifying investments, creating contingency plans, or adopting new technologies. Monitor and Review: Continually monitor risks and review the effectiveness of mitigation strategies. This ensures that the organization is prepared for any changes in the risk landscape.