Businesses can also choose to achieve risk through mitigation or reduction. Mitigating business
risk is meant to lessen any negative moment or impact of specific, known risks, and is most often
used when business risks are obligatory.
3. Give an example of a risk management strategy that can be used to manage intellectual
property risks inherent in strategic planning.
Outline the benefit of conducting a SWOT analysis as part of a strategic planning process
and how a SWOT analysis is conducted.