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 corporate finance, 'mitigation' might mean taking steps to reduce financial risk. A CFO might say, 'Our mitigation strategy involves diversifying our investments to ensure stability.'

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.

Tech

Scenario:

The recent cyber attack on our databases has breached our security systems. It's evident that we need to rethink and update our safety protocols.

Response:

The cybersecurity breach has exposed the vulnerabilities in our system, and we urgently need to apply mitigation measures to soften its effects.