An Organization That Chooses to Outsource Its Risk Management Practice

question 15

Multiple Choice

An organization that chooses to outsource its risk management practice to independent consultants is taking the ____ control approach.

• A) avoidance
• B) mitigation
• C) transference
• D) acceptance

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Definitions:

Best Interests

Actions or decisions that are considered most beneficial to the well-being or success of an individual or group.

Socially Responsible

Acting with consideration for the ethical, environmental, and community implications of one's actions, often linked to sustainable business practices.

Engage In Philanthropy

The act of donating time, resources, or money to charitable causes in order to contribute to the welfare of others.

Ethical Organization

An organization characterized by ethical practices, where ethical principles guide its decision making, relationships, and conduct towards employees, customers, and society.