A business owner should not let managers and employees know about the companys plan for handling risks, as that information is not really any of their concern.

RISK MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A business owner should not let managers and employees know about the company’s plan for handling risks, as that information is not really any of their concern.

A	true
B	false
C	Either A or B
D	None of the above

Explanation:

Detailed explanation-1: -Risk management is the process of identifying, assessing and controlling threats to an organization’s capital and earnings. These risks stem from a variety of sources, including financial uncertainties, legal liabilities, technology issues, strategic management errors, accidents and natural disasters.

Detailed explanation-2: -There are five basic steps that are taken to manage risk; these steps are referred to as the risk management process. It begins with identifying risks, goes on to analyze risks, then the risk is prioritized, a solution is implemented, and finally, the risk is monitored.

Detailed explanation-3: -Importance of Risk Management Risk management is an important process because it empowers a business with the necessary tools so that it can adequately identify and deal with potential risks. Once a risk has been identified, it is then easy to mitigate it.

There is 1 question to complete.

BUISENESS MANAGEMENT

RISK MANAGEMENT