The chapter discusses the concept of risks in the economy and how it affects
the everyday operations of a company. Risks arising can result in economic losses,
damage to facilities and equipment, and, most importantly, workplace accidents. Risk
management nowadays has developed in both concept and practice and has become an
industry in countries with a functional market economy. The chapter emphasizes that
risk management is a crucial aspect of global management that requires information
from various fields, such as economic, technical, legal, statistical, and psychological, to
maintain the risk at the minimum level. Moreover, effective risk management can lead
to sustainable development for humans, the environment, and businesses.
Keywords: Risk Assessment, Risk Management, Risk Control, hazard, Risk evaluation, Risk control, Risk-based management, Risk monitoring, Risk communication.
