BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not a strategy we discussed this week regarding managing risk?
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ignore risk
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avoid risk
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reduce risk
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transfer risk
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Explanation:
Detailed explanation-1: -Explanation. Risk elimination is not a type of risk management strategies.
Detailed explanation-2: -The basic methods for risk management-avoidance, retention, sharing, transferring, and loss prevention and reduction-can apply to all facets of an individual’s life and can pay off in the long run.
Detailed explanation-3: -There are four common risk mitigation strategies. These typically include avoidance, reduction, transference, and acceptance.
There is 1 question to complete.