Risk Management Is Deciding What Type of Insurance or Other

question 3

True/False

Risk management is deciding what type of insurance or other precautions need to be implemented to decrease a business's exposure to loss.

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Definitions:

"80/20" Rule

The Pareto Principle, which posits that roughly 80% of effects come from 20% of causes, applied in various contexts such as business and time management.

Guided Imagery

A technique used in psychology and meditation where an individual is guided through a series of visualizations to promote relaxation, change behaviors, or improve performance.

Progressive Muscle Relaxation

A relaxation technique that involves tensing and then slowly relaxing various muscle groups throughout the body to reduce stress and anxiety.

Stress Management Strategies

Techniques or methods used to control an individual's level of stress, often for the purpose of improving everyday functioning.