Finance and Economic Viability Analysis in the Medical Area
<p>Step 04: Risk Management — The process of identifying, assessing, and mitigating potential risks to minimize their impact on an organization’s objectives.</p>
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<p>Risk Mitigation: The Four Types</p>
<p><strong>Liquidity</strong>: The ease with which an asset or security can be converted into cash without affecting its market price, often used to measure a company’s ability to meet short-term financial obligations.</p>
<p><strong>Operational </strong>Risk: The risk of financial losses resulting from internal processes, systems, people, or external events, including human error, technology failures, and natural disasters.</p>
<p><strong>Credit Risk</strong>: The risk that a borrower may default on their debt or fail to meet their financial obligations, leading to potential financial losses for the lender.</p>
<p><strong>Market Risk</strong>: The potential for financial losses due to fluctuations in market prices of assets, such as stocks or commodities, caused by various factors like economic events or changes in market sentiment.</p>
<p><strong>Other Risks</strong>: A broad category that encompasses various risks beyond the common categories mentioned above, including legal risks, compliance risks, and strategic risks, among others.</p>
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