A Risk Management Plan

question 7

Multiple Choice

A risk management plan

• A)does not require regular revision.
• B)does nothing to promote the better conduct of a business.
• C)is only necessary in sophisticated businesses.
• D)does not necessarily involve a lawyer in every part of the overall plan.
• E)helps a business to identify and anticipate potential legal liability.

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Definitions:

Formal Authority

The power given to an individual or group based on their position within an organization's hierarchy.

Buying Center

A collection of people within a company who take part in the process of deciding to buy goods or services.

User

An individual or entity that utilizes a product, service, or system for their intended purpose or benefit.

Buying Center

A group of individuals within an organization who are responsible for making purchasing decisions.