There are several strategies that business leaders can employ to mitigate market risk: 1. Diversification: Spreading investments across different asset classes can reduce exposure to any single market movement. 2. Hedging: Using financial instruments such as options and futures contracts can provide a safety net against adverse market changes. 3. Liquidity Management: Maintaining a healthy level of liquid assets ensures that the company can meet its short-term obligations even during market downturns. 4. Scenario Planning: Developing multiple contingency plans based on different market conditions helps in being prepared for various outcomes.