The Process by Which an Organization Can Reduce the Opportunity

question 24

Multiple Choice

The process by which an organization can reduce the opportunity for an adverse event to occur is known as:

• A) Crisis management.
• B) Risk management.
• C) Strategic management.
• D) Financial management.

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Definitions:

Legal Obligation

A duty enforced by law that requires an individual or entity to act or refrain from acting in a certain manner.

Specified Date

A particular day designated for a certain event or action to take place.

Sourcing

The process of finding suppliers of goods or services, especially in a manufacturing or business context.

Procurement

The process of obtaining goods or services, typically for business purposes.