________ Is the Risk That Exists Before Management Takes Any

question 9

Multiple Choice

________ is the risk that exists before management takes any steps to mitigate it.

• A)Inherent risk
• B)Residual risk
• C)Risk appetite
• D)Risk assessment

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Definitions:

Scenario Analysis

A planning tool used to analyze possible future events by considering alternative possible outcomes or scenarios.

Qualitative Procedure

Methods used to gather and analyze non-numerical data to understand concepts, thoughts, or experiences.

Herman Kahn

An American futurist and military strategist known for his works on nuclear strategy and scenarios of potential future conflicts.

Strategic Management

A management approach focused on setting goals, analyzing competitive environments, defining strategies, and allocating resources to achieve long-term objectives.