risk reduction JUST WRITTEN FOR YOU
/ˈrɪsk rɪˈdʌkʃən/ · risk.red.u.c.tion
noun
- The process or strategy of minimizing or reducing the likelihood or impact of a potential threat or hazard. The company implemented a risk reduction plan to mitigate the effects of a natural disaster.
- The amount or degree of reduction in risk achieved through a particular action or intervention. The risk reduction achieved by implementing safety protocols was significant.
verb
- To make something less likely or less severe by taking action to reduce a potential threat or hazard. The government is working to reduce the risk of a pandemic by implementing public health measures.
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Did you know? The concept of risk reduction has been applied in various fields, including finance, healthcare, and environmental management, to minimize the impact of potential threats and hazards.