Global Risk Management involves identifying, assessing, and prioritizing risks that can affect organizations operating in multiple countries. This process helps businesses understand potential threats, such as economic fluctuations, political instability, and natural disasters, allowing them to develop strategies to mitigate these risks. Effective Global Risk Management requires collaboration across various departments and regions. Organizations often use tools like risk assessment frameworks and insurance policies to protect their assets and ensure compliance with international regulations. By proactively managing risks, companies can enhance their resilience and maintain a competitive edge in the global market.