In all cases you can choose to accept a risk rather than take action. Describe any five situations where accepting a risk may be the best option.
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In all cases you can choose to accept a risk rather than take action. Describe any five situations where accepting a risk may be the best option.
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- Risk they say it’s in every decision we make as humans. Explain a positive or negative RISK that have been taken before or seen happening and its impact on you or the people that took such RisksYou own an online shop on a website like Etsy, where you sell laptop stickers you have designed. You have identified five risks you would like to address. When you perform a risk prioritization, you find that all five risks have similar risk scores. You meet your best friend at a local coffee shop to brainstorm about your risks and get your friend's input. While there, you write your reasoning for each risk on a separate note card-one for each risk-and place the cards in order of the priority that you and your friend have agreed on. On the walk back to your apartment, you drop the note cards, and they are now out of order. You need to re-create your prioritization from the coffee shop. Your note card choices are as follows. Notecard Letter A Risk B C D E Reasoning for priority This store is a source of income for you. You need to protect yourself by making sure you do not send merchandise to a customer until the customer's credit card clears the system and the payment is in your…Below are four categories of risk and ways that a company is currently handling the risks. Which risk handling options are being used? More than one answer may apply. a. A company is handling its high R&D financial risk by taking on partners and hiring subcontractors. The partners/subcontractors are expected to invest some of their own funds in the R&D effort in exchange for sole-source, long-term production contracts if the product undergoes successful commercialization. b. A company has decided to handle its marketing risks by offering a family of products to its customer base. Different features exist for each product offered. c. A company has product lines with a life expectancy of ten years or more. The company is handling its technical risks by performing extensive testing on new components and performing parallel technical development efforts for downstream enhancements. d. A company has large manufacturing costs for its high-tech products. The company will not…
- In Management, what are the most common responses to risk? ASAPIt's important to name and briefly describe the five main approaches to managing risk.Identify an engineering firm or any organization/company/agency of your choice. - Determine the methods used by the firm in handling risk - Do you consider these methods adequate? If not, suggest the appropriate methos that must be used.
- How do organizations account for and manage "unknown unknowns" or unforeseen risks in their risk management strategies?What is the difference between mitigation and contingency when it comes to risk? Which do you believe is more important? Why?Do you agree that the organization should treat risk management as a discrete event rather than continuous process? Why or why not?