Which of the following is a critical component of risk assessments?

Identifying potential hazards is a fundamental aspect of risk assessments. This step involves understanding what dangers might be present in a workplace or operational setting, which is crucial for ensuring the safety of employees and others who might be affected. By pinpointing these hazards, organizations can take the necessary steps to mitigate risks, implement safeguards, and create a healthier work environment. This process helps in formulating strategies for risk control and prevention, ultimately minimizing the likelihood of accidents or injuries.

The other options listed, such as scheduling employee shifts, organizing company outings, and planning marketing strategies, do not directly pertain to the process of risk assessment. While these activities are important for overall organizational management, they do not focus on identifying and managing potential hazards, which is the core purpose of risk assessment in maintaining workplace safety.