Strat. mgmt. & Risk Mgmt. in DIGITAL Firms

Strategic management involves setting long-term goals and determining the best course of action to achieve them, while risk management focuses on identifying, assessing, and mitigating potential threats to those goals. The interplay between them is crucial: effective strategic management requires a thorough understanding of risks, and risk management must align with strategic objectives to ensure that risks are managed in a way that supports overall business strategy. Together, they help an organization navigate uncertainties and achieve sustainable success, Neither of them can be ignored