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This paper highlights the crucial role of adopting ISO 31000 as a comprehensive and flexible risk management standard for organizations throughout Latin America. ISO 31000 provides a globally recognized framework for tackling various challenges, such as regulatory pressures, economic fluctuations, and operational inefficiencies. By embedding risk management into day-to-day operations and strategic decision-making, organizations can strengthen their resilience and improve decision-making processes. The study examines key elements of ISO 31000, such as risk identification, assessment, and response strategies, which include mitigation, transfer, acceptance, or elimination. It stresses the importance of stakeholder engagement to ensure effective communication and consultation at every phase. The iterative nature of risk management outlined in ISO 31000 promotes continuous improvement and ali...