Arturo Is Worried About the Risk of Potential Flooding to His

question 8

Multiple Choice

Arturo is worried about the risk of potential flooding to his restaurant. He decides to buy insurance to cover this ________ risk.

• A) speculative
• B) pure
• C) uninsurable
• D) managed

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Definitions:

Allocate Resources

The act of distributing available assets, such as time, money, and manpower, among various projects or departments to achieve organizational goals.

Strategic Management

The formulation, implementation, and evaluation of actions and decisions that will enable an organization to achieve its long-term objectives.

Environmental Scanning

Environmental scanning is the process of systematically gathering, analyzing, and managing external information about factors that could impact an organization's ability to succeed.

Competitive Advantage

An attribute or combination of attributes that allows an organization to outperform its competitors, achieved through cost leadership, differentiation, or focus strategies.