1. Define Risk management. 2. Differentiate between a risk averse entrepreneur and a risk seeking entrepreneur. 3....
Question:
1. Define "Risk management".
2. Differentiate between a risk averse entrepreneur and a risk seeking entrepreneur.
3. Give four categories of hazard-based risks and provide an example of each.
4. Outline any six of the early warning signs that indicate that an organisation is at risk.
5. Describe the four elements of the integrated risk management framework.
Businesses are often faced with operational risks and decisions must be made to alleviate such risks.
Discuss typical operational decisions that are made to deal with operational risks.
6 a. Explain how an entrepreneur would benefit from incorporating a risk management approach in
their business.
b. Discuss how scenario building can be used as an important tool in risk management. In your
Intermediate Algebra
ISBN: 9780134895987
13th Edition
Authors: Margaret Lial, John Hornsby, Terry McGinnis