COMPUTER NETWORKS AND COMMUNICATIONS
NETWORK SECURITY AND CYBERSECURITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Risk acknowledged, no steps taken
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Attempt to address risks by making them less serious
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Avoiding a dangerous situation
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Attempt to address risks by making them less serious
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Detailed explanation-1: -Risk avoidance is the elimination of hazards, activities and exposures that can negatively affect an organization and its assets. Whereas risk management aims to control the damages and financial consequences of threatening events, risk avoidance seeks to avoid compromising events entirely.
Detailed explanation-2: -Risk avoidance means you’re trying to avoid compromising events as a way to eliminate liability exposures. Risk reduction is a way to help you control the damages to your business, like claims or losses.
Detailed explanation-3: -An example of risk avoidance might be a manufacturing business not using certain hazardous materials or chemicals due to the dangers of handling and storing them; or, an organization limiting the type of customer data it stores on its computers in case of a cyberattack.
Detailed explanation-4: -What is risk avoidance in insurance? Risk avoidance means running your company in a way that eliminates certain hazards and exposures that could result in an expensive lawsuit or a financial loss.
Detailed explanation-5: -Avoidance: Many times it is not possible to completely avoid risk but the possibility should not be overlooked. For example, at the height of a thunderstorm, Physical Plant may not release vehicles for travel until the weather begins to clear, thus avoiding the risk of auto accidents during severe weather.