The Purpose of Risk Management Is to _____

question 14

Multiple Choice

The purpose of risk management is to _____.

• A) train employees to follow security procedures to prevent potential software attacks
• B) save money by not getting involved in expensive investigations to try to find the attacker that may not be successful
• C) reduce risk to an acceptable level
• D) eliminate risks at all costs

Recognize the importance of the corporate, business, and functional levels of strategy within a business.

Identify the components and implications of various strategic frameworks, including the Miles and Snow adaptive framework and the BCG matrix.

Understand the significance of competitive strategies, including cost leadership and differentiation strategies.

Acknowledge the role of portfolio planning in strategic management and its goal in resource allocation.

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Definitions:

Critical Few

A term referring to the small number of vital factors or key individuals that are considered most important in achieving a larger goal or performance target.

Culture Shock

The feeling of disorientation experienced by someone who is suddenly subjected to an unfamiliar culture, way of life, or set of attitudes.

Mental Strain

Psychological stress or pressure that affects an individual's mental health or well-being.

Expatriate

An individual who lives and works in a country other than their native country, often for an extended period.