Final answer:
Risk management is the framework and process that organizations use to manage the risks that could affect their competitiveness and success.
Step-by-step explanation:
A framework and process that organizations use to manage the risks that could negatively or positively affect the company's competitiveness and success is called risk management. Risk management involves identifying, assessing, and prioritizing potential risks, and implementing strategies to mitigate or exploit these risks. It is an essential aspect of business operations to ensure the long-term sustainability and growth of the organization.