A company planning to minimize the impact of risk is engaging in what strategy?

Very Short Explanation According to the CTSC Exam Content Manual1, risk mitigation is one of the

four main risk response strategies, along with risk acceptance, risk avoidance, and risk transfer. Risk

mitigation aims to reduce the probability and/or impact of a risk by implementing actions such as

contingency planning, alternative sourcing, quality improvement, etc. Risk mitigation is different

from risk acceptance, which means accepting the consequences of a risk without taking any action;

risk avoidance, which means eliminating the risk by changing the plan or scope; and risk transfer,

which means shifting the risk to a third party such as a supplier, insurer, or partner.

1: https://www.ascm.org/ctsc-ecm/