BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Carol opened a movie rental store a few years ago, and due to new, more convenient movie rental options, her business is failing. This is an example of a business owner failing due to which type of risk?
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Natural risk
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Financial risk
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Economic risk
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Human risk
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Explanation:
Detailed explanation-1: -Opportunity-based risks for a business include moving a business to a different location, buying a new property, or selling a new product or service.
Detailed explanation-2: -There are five categories of operational risk: people risk, process risk, systems risk, external events risk, and legal and compliance risk.
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.
There is 1 question to complete.