Journal of Applied Business, Economics and Strategic Management ISSN: 3139-1664 (Online)

Authors: Anika Mehta, Rohan Kapoor

Abstract: In today's interconnected world, businesses face unprecedented risks arising from political instability, economic fluctuations, technological disruptions, and global pandemics. Effective business risk management (BRM) is crucial for navigating these uncertainties and ensuring sustainable performance. This paper explores strategies, frameworks, and tools for managing risks in a volatile global economy. By examining literature, case studies, and empirical data, the study highlights the importance of risk identification, assessment, mitigation, and monitoring. The findings indicate that organizations employing proactive risk management frameworks achieve greater resilience, operational continuity, and competitive advantage. The paper also discusses challenges in implementing risk management practices and provides recommendations for integrating BRM into strategic decision-making.

Keywords: Business risk management, global economy, risk assessment, risk mitigation, strategic planning, operational continuity, resilience.