mitigation

Vocabulary Word

Definition

'Mitigation' refers to actions that reduce the severity, seriousness, or painfulness of something. Like taking an aspirin to relieve a headache, the aspirin mitigates the headache.

Examples in Different Contexts

In event planning, 'mitigation' could be about preparing for unpredictable factors, like bad weather. An event planner might discuss, 'The mitigation plan includes setting up tents in case of rain during the outdoor concert.'

Practice Scenarios

Public Policy

Scenario:

The socio-economic divide in our community is widening. What actions can we enforce to limit this growing disparity?

Response:

One strategy is to increase investment in educational programs as a mitigation measure against socio-economic disparity.

Business

Scenario:

The risks associated with this venture could impact our financial standing significantly. We need to approach this with caution and prepare a strategic plan.

Response:

I agree, we should develop a thorough risk mitigation plan to minimize potential losses and manage any resulting financial exposure.