Risk mitigation is the process of taking steps to reduce the likelihood or impact of a risk occurring. In this case, the shipping company is investing in measures to reduce the impact of weather conditions on its cargo, such as using weather-resistant containers or rerouting shipments around areas with severe weather.
Risk mitigation involves taking measures to reduce the probability and/or impact of a risk. When a shipping company invests to reduce damage caused by weather conditions, it is adopting a risk mitigation strategy. It is identifying a potential risk (damage due to weather conditions) and then taking specific actions to reduce the likelihood or impact of that risk (through investments in equipment, training, technology, etc.). Therefore, this action is an example of risk mitigation.
A voting comment increases the vote count for the chosen answer by one.
Upvoting a comment with a selected answer will also increase the vote count towards that answer by one.
So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.
Rajiv8047
1 year agoAlizade
1 year, 3 months agoDaesma
1 year, 4 months ago[Removed]
1 year, 8 months ago