RISK MANAGEMENT IN GLOBAL BUSINESS OPERATIONS: PREPARING FOR UNCERTAINTY

Abstract

Risk management in global business operations has become an essential component for organizations seeking to thrive in an increasingly unpredictable environment. With a heightened focus on the complexities of global markets, businesses must identify, assess, and mitigate risks arising from political, economic, environmental, and technological factors. The uncertainty in international trade, evolving regulatory landscapes, supply chain vulnerabilities, and unforeseen crises necessitate comprehensive risk management strategies. This paper explores key risk management practices for preparing businesses for uncertainty, emphasizing proactive planning, real-time data analytics, and organizational resilience. Moreover, it investigates various risk assessment frameworks, decision-making models, and the role of technology in enhancing global business operations. By analyzing global case studies, the paper also highlights successful strategies implemented by multinational corporations to minimize operational disruptions and maintain competitive advantages.