Failure to follow a formal risk management plan will often cause organizations to be reactive and find themselves in a state of perpetual crisis, a condition known as crisis management.

Question

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A formal risk management plan helps organizations proactively identify and mitigate risks before they escalate into crises. Without such a plan, organizations are more likely to be caught off guard and forced into a reactive mode of crisis management.

Failure to Follow a Formal Risk Management Plan Will Often