BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Strategies to deal with risk can include:
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Capitalising on strengths
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Addressing internal weaknesses
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Exploiting competitor weaknesses
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Hoping for the best
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Explanation:
Detailed explanation-1: -Since project managers and risk practitioners are used to the four common risk response strategies (for threats) of avoid, transfer, mitigate and accept, it seems sensible to build on these as a foundation for developing strategies appropriate for responding to identified opportunities.
Detailed explanation-2: -The five basic strategies to deal with negative risks or threats are Escalate, Avoid, Transfer, Mitigate and Accept.
Detailed explanation-3: -The SWOT Matrix In some cases, the firm can overcome a weakness in order to prepare itself to pursue a compelling opportunity.
There is 1 question to complete.