Companies Adopt Risk Management Procedures to Minimize the Chance of Business

question 17

True/False

Companies adopt risk management procedures to minimize the chance of business failure due to unplanned events such as security breaches, terrorist attacks, and natural disasters.

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Definitions:

Chemicals

Substances with a distinct molecular composition that are used in or produced by chemical processes.

Systematic

Refers to a method or process being carried out using a fixed plan or system, in a thorough and organized manner.

Formal Operational Thinking

The stage in Jean Piaget's theory of cognitive development where individuals gain the ability to think abstractly, logically, and systematically.

Logical Necessity

A condition or proposition that cannot be otherwise because of the inherent nature of logic or rationality.