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Explain the Meaning and Nature of Business Risk

question 19

Essay

Explain the meaning and nature of business risk.List the most commonly identified sources of business risk.


Definitions:

Social Norms

Shared expectations within a society or group about appropriate behaviors and actions, dictating acceptable and unacceptable conduct.

Intercultural Couples

Relationships between partners from different cultural backgrounds.

Relational Maintenance

The actions and behaviors individuals use to keep a relationship in a desired state or condition, promoting its continuation and health.

Lie By Omission

The act of misleading by failing to disclose vital information, thus allowing others to hold false beliefs based on incomplete or partial truths.

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