DefinePK

Abstract

Effective risk management strategies play a pivotal role in enhancing the profitability of organizations, particularly in the technology sector. The study investigates the correlation between risk management strategies and profitability at Persistent Systems in Nagpur, aiming to explore how various risk mitigation tactics influence financial performance. By focusing on identifying key risks, analysing risk management frameworks, and evaluating their impact on operational outcomes, the research examines the role of strategic decision-making in minimizing uncertainties. It employs a mixed-method approach, incorporating qualitative insights from managers and quantitative analysis of financial data. The findings suggest that proactive risk identification and mitigation strategies directly contribute to improved profitability, particularly in volatile markets. The study emphasizes the importance of integrating comprehensive risk management practices into organizational culture and decision-making processes. Moreover, it highlights the need for continuous evaluation and adaptation of risk strategies to address emerging challenges. The research concludes with recommendations for enhancing risk management frameworks, thereby fostering sustainable growth and ensuring profitability for Persistent Systems.