GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Carefully selecting goods or services to sell is an example of handling business risks by ____ the risk.
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bypassing
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controlling
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avoiding
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transferring
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Explanation:
Detailed explanation-1: -Business risk usually occurs in one of four ways: strategic risk, compliance risk, operational risk, and reputational risk.
Detailed explanation-2: -Business risk is defined as the possibility of occurrence of any unfavourable event that has the potential to minimise gains and maximise loss of a business. In simple words, business risks are those factors that increase the chances of losses in a business and reduce opportunities of profit.
Detailed explanation-3: -Decide what matters most. Consult with stakeholders. Identify the risks. Analyse the risks. Evaluate the risk. Treat risks to your business. Commit to reducing risk. 10-Aug-2021
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