Which Action Is Part of the Second Step of a Risk

question 18

Multiple Choice

Which action is part of the second step of a risk management program analysis?

• A)Identify and understand risks.
• B)Evaluate the potential severity of risks.
• C)Select method to manage risks.
• D)Implement the decision.

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Definitions:

Corporate Codes of Conduct

A set of guidelines designed to help businesses operate in a legal, ethical, and responsible manner.

Labor Standards

The criteria relating to minimum wage, working hours, health, safety, and overall working conditions that employers must adhere to.

WTO

The World Trade Organization, an international body that regulates international trade agreements and aims to ensure smooth, fair, and predictable trade flows.

Global Trade Agreements

International treaties that govern the exchange of goods and services between countries, aiming to reduce trade barriers and promote global economic integration.