Abstract
Risk is an important part of all businesses in the world. No business can exist without confronting with high and low, evitable and inevitable risks. For this purpose, the process of risk management is one of the most crucial activities of a business. Risk management is one of the most preeminent activities carried out in any business in order to eliminate and mitigate various risks involved in its operations. With the help of risk management strategies, a company can either avoid the occasion of risk bearing event or limit losses in the consequence of high risk. The risk management concept has increasingly been extending its focus from typical financial perspective to environmental and societal perspective, known as the triple bottom line.
