Loss minimisation is a risk management strategy to reduce the impact of revenue losses in one area on the overall profitability in the long term.
Minimises losses by not concentrate all efforts and resources in one market, industry or economy – spread risk.
Diversifying: process of business varying range of products or field operations.
Seasonality: routine changing of climate characteristics
Hedging is a management strategy against possible loss by balancing/compensating risk e.g. Australia’s multiple markets