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What is the meaning of risk management?

Explain the statement, "Risk management is everyone's responsibility". What does responsibility entail and why is this important? Provide examples.

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Risk management is everyone's responsibility essentially means that every individual within an organization has a responsibility to identify any potential or possible risks/risk factors, and to report them to their superiors etc. Additionally, it is the responsibility of every individual within an organization to seek to provide solutions to these risks, in order to help to ...