What is defined as a risk external to the business that could hinder its success?

A threat is defined as a risk external to the business that could impede its success. It encompasses factors such as competitive actions, economic downturns, regulatory changes, or natural disasters, which are not controlled by the business. Recognizing threats allows a company to develop strategic plans to mitigate their impact, ensuring greater resilience and preparedness in an ever-changing environment. By identifying these external risks, businesses can adjust their strategies to minimize potential negative outcomes, safeguarding their objectives and long-term success.