MANAGEMENT

Detailed explanation-1: -While it’s impossible to eliminate all risks, a risk avoidance strategy can help prevent some losses from happening. It’s an important part of any risk management plan and a way to protect your organization’s assets from potential losses.

Detailed explanation-2: -Planning helps the manager to face the uncertainty because planners try to foresee the future by making some assumptions regarding future keeping in mind their past experiences and scanning of business environments. The plans are made to overcome such uncertainties.

Detailed explanation-3: -Business risk arises due to uncertainties. Uncertainty is when it is not known what is going to happen in future. Examples of uncertainties that affect a business are, change in government policy, change in demand, change in technology, etc. 2. Risk is an essential part of the business.

Detailed explanation-4: -The risk control strategy that eliminates all risk associated with an information asset by removing it from service is known as the termination risk control strategy.