Risk Management

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Risk Management Name Institution Affiliation Date Abstract Risk aversion is an important component in conducting any activity, either in organizations or even personally. In most of the successful organisations in the world, the ability to perform risk management has been their winning strategy. They have been able to master and perfect on the skill to the fullest (Tulloch et al., 2015). Therefore, this paper tends to focus on the risk review of the purchase of a new car. It will cover the process of mitigation from identification where key players in the industry will be highlighted. Furthermore, it will proceed into the process of ranking various forms of risks and how this can be beneficial for the client. After that, it will discuss on how the proper monitoring of the risks that have been identified and then ranked can be done and how this can help in the way the final process of mitigation will occur. Finally, the paper will conclude on a recommendation of how risk aversion can be useful in the world today for both individuals and organizations. Risks are a part of life, and they are to be considered and reviewed in almost all instances (Tulloch et al., 2015). As such, we are going to look at the risk review when purchasing a new car. In the purchase of a new car, a lot of factors are to be heavily considered. Firstly, in the proper mitigation of the risks, they need to be identified. As such, in this life-changing experience, we have various factors that can be considered; from looking at the manufacturer, the dealer, the features and many more. On the side of the manufacturer, it is best to buy from manufacturers that have been considered globally as

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