Risk Taking Can Be Encouraged in an Organization By

question 24

Multiple Choice

Risk taking can be encouraged in an organization by:

• A)seeking out projects that stand little chance of success.
• B)avoiding the inclination to punish failure.
• C)promotion of workers that are ill-equipped to lead projects.
• D)demoting project managers that are too conservative.

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Definitions:

Insurance Company

An organization that offers risk management to individuals or entities by providing compensation for losses in exchange for premium payments.

Insured

A person or entity covered by an insurance policy, protecting them against loss or damage specified in the policy.

Safety Standards

are established norms or criteria designed to ensure the safe design, production, use, and disposal of products and services.

Insurance Contracts

Agreements between an insurer and the insured, where the insurer agrees to compensate the insured for loss under specific circumstances in exchange for a premium.