BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The risk factor over which the organization has the most control
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Impossible to accurately assess by an outside consultant
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The risk factor that is most expensive to correct
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The only risk factor that can be influenced by the organization
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Detailed explanation-1: -What is a Vulnerability? Vulnerabilities are weak spots within your environment and your assets-weaknesses that open you up to potential threats and increased risk.
Detailed explanation-2: -The ability of organizations to make sense of the state of their environment, to detect new threats, to adopt new technologies and organizational attributes, contribute to their resilience.
Detailed explanation-3: -Why is identification of risks, through a listing of assets and their vulnerabilities, so important to the risk management process? Answer: It is important because management needs to know the value of each company asset and what losses will be incurred if an asset is compromised.
Detailed explanation-4: -The different types of vulnerability According to the different types of losses, the vulnerability can be defined as physical vulnerability, economic vulnerability, social vulnerability and environmental vulnerability.