BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A risk that can be reduced or even avoided by actions you take
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Liability
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Controllable risk
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Risk
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Professional liability insurance
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Explanation:
Detailed explanation-1: -Controllable risks are those which you can do something about. These would include currency exchange risks, addressing skills issues, poor cashflow (i.e.lack thereof), lawsuits, etc. Uncontrollable risks might include natural disasters (floods, storms, etc).
Detailed explanation-2: -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.
There is 1 question to complete.