Ch. 8 Risk management Strategies -short answers

Description

Midterm O&A Flashcards on Ch. 8 Risk management Strategies -short answers, created by Tamara Jacob on 18/04/2016.
Tamara Jacob
Flashcards by Tamara Jacob, updated more than 1 year ago
Tamara Jacob
Created by Tamara Jacob over 8 years ago
8
2

Resource summary

Question Answer
AVOIDANCE When an activity, procedure, or event is so risky that dire consequences are likely, the organization may chose to avoid that activity
TRANSFERENCE When activities are associated with high financial risk but low frequency (catastrophic, sport injury) or low financial risk but high frequency (fractures, surgical injuries), a common method to reduce the risk of these activities is to transfer all or part of the risk to another entity.
RETENTION Every organization have activities or sponsors programs that have a level of risk deemed acceptable in light of organization's mission. The organization accepts and retains risks like these.
REDUCTION Careful development, implementation, monitoring, and evaluation of policies and procedures can reduce the risk.
Show full summary Hide full summary

Similar

Silas Marner notes
mehxinee
German GCSE Vocab
naomisargent
unit 1 f321 chemistry ocr
methmip
Biology 1 Keeping Healthy Core GCSE
Chloe Roberts
Command or Process Words for Essay Writing
Bekki
Nutrition
manu_maus
Sociology: Crime and Deviance Flash cards
Beth Morley
GCSE AQA Biology 2 Plants & Photosynthesis
Lilac Potato
All AS Maths Equations/Calculations and Questions
natashaaaa
History - Treaty of Versailles
suhhyun98
SalesForce ADM 201 Study Quiz
Kristin Bunn