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Risk Management in Everyday Life
As I’ve repeatedly noted, managing risk is an instinctual function of everyday life. Here are ten ways that everyday people manage risks without even realizing it. Personal Finance: Budgeting, diversifying investments, and creating an emergency fund to mitigate financial risks such as unexpected expenses or income loss. Health and Safety: Wearing seat belts, practicing safe…
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A Brief History of Risk Management
The concept of risk management can be traced back to ancient times, where traders and merchants would use various strategies to manage the risks associated with their businesses. For example, traders would often spread their goods across different vessels to reduce the risk of losing everything in the event of a shipwreck. However, it wasn’t…