Best Practices in Approaching Risk Management Include the Following Steps

question 59

Multiple Choice

Best practices in approaching risk management include the following steps except:

• A) identify risks.
• B) calculate revenue losses from risks.
• C) analyze and assess risks.
• D) design strategies for managing risk.
• E) measure, monitor and report risks.

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Definitions:

Competitive Pressures

Forces or factors in the external environment that compel organizations to adapt, innovate, and continually improve to maintain or enhance their market position.

Operations Expenses

Operations expenses refer to the costs associated with the day-to-day activities of maintaining a business, including manufacturing, marketing, and administrative expenses.

Indirect Political Risk

The potential for losses or negative impacts on a business due to political decisions or events that indirectly affect the operating environment.

Collateral Damage

Unintended or incidental damage or casualties not directly intended by the action.