ISO 31000 Context:ISO 31000 provides guidelines on risk management, emphasizing the importance of understanding the external context.
External Context:This includes external factors such as regulatory and competitive environments that can impact the organization’s risk profile.
Regulatory Environment:Understanding regulations helps the organization ensure compliance and avoid legal risks.
Competitive Environment:Analyzing the competitive environment allows the organization to anticipate market changes and manage competitive risks.
References:
ISO 31000 Risk Management Guidelines.
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