Which risk response strategy involves applying efforts to reduce the risk?

The risk response strategy that involves applying efforts to reduce the risk is mitigation. Mitigation strategies aim to lower the probability or impact of a risk event through various means, such as implementing security controls, enhancing policies, conducting training, or employing technology solutions. The goal of mitigation is to lessen the overall effect of the risk on an organization's assets.

By engaging in risk mitigation, an organization actively works to minimize potential threats that could arise from vulnerabilities. This approach is particularly effective because it not only seeks to lower the probability of an incident occurring but also aims to reduce the potential damage should an incident take place. As a result, mitigation is considered a proactive approach to risk management, ensuring that organizations are better prepared to handle potential issues that may arise.

In contrast, the other strategies focus on different approaches to risk. Transferring the risk involves shifting responsibility to another party, such as through insurance. Rejecting the risk means deciding to accept it without taking further action. Avoiding the risk entails removing the activities that create exposure. Each of these strategies serves a different purpose, but none specifically targets the reduction of the risk itself in the way that mitigation does.