What Is the Difference Between Mitigating a Risk and a Contingency

question 5

Essay

What is the difference between mitigating a risk and a contingency plan? Provide real life examples that illustrate the difference.

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Definitions:

Binge-purge Patterns

A cycle of excessive eating episodes followed by behaviors to prevent weight gain, such as vomiting, commonly associated with bulimia nervosa.

McDonaldization

The increasing and ubiquitous presence of the fast-food model in vast numbers of organizations.

Ritzer

George Ritzer is a sociologist known for his work on consumerism, globalization, and the McDonaldization of society, which describes when society adopts the characteristics of a fast-food restaurant.

Dimensions

Aspects or features that can be measured or used to define or describe something, often used in various contexts like physical dimensions or dimensions of an issue.