Final answer:
Risk management in organizations involves not only entrepreneurs, who calculate risks for their ventures, but also senior management, operational staff, and dedicated risk management professionals. Together, they work towards identifying and mitigating risks to align with the organization's goals.
Step-by-step explanation:
In most organizations, risk management activities are expected to be undertaken by a broad range of stakeholders including senior management, entrepreneurs, project managers, and other operational staff. Entrepreneurs, who create and manage businesses by combining resources and taking on financial risks, are integral to the risk management process. Given their investment in the venture, successful entrepreneurs carefully calculate risks to mitigate potential losses. However, responsibility also falls on employees who are accountable for particular processes or outcomes within their job roles. They are expected to manage risks in their area of expertise to ensure the organization meets its objectives.
Organizations may also have dedicated risk management professionals whose sole focus is to identify, assess, and mitigate risks across the organization. These individuals work in conjunction with others in the company to maintain a balanced approach to risk-taking, aligning it with the strategic objectives of the business.