Strat. mgmt. & Risk Mgmt. in DIGITAL Firms

 Strategic management and risk management are closely intertwined in the business world. In strategic management, companies set goals and develop plans to achieve them effectively. Risk management, on the other hand, focuses on identifying, assessing, and mitigating potential risks that could hinder the achievement of those goals. The interplay between the two lies in how strategic decisions made by a company can impact its exposure to various risks. Companies need to consider risks when formulating strategies and also implement risk management strategies to safeguard their strategic objectives. It's like a dance where strategic management leads the way, and risk management ensures the path is clear of obstacles.