Question $2$: Short Questions

$[30]$

$2\mathrm{.}1.$ Retail companies often face multifaceted risks in their operations. Discuss the risk analysis and evaluation methods in the retail sector. Provide a critical analysis of the evaluation methods. Finally, propose an integrated approach that a retail firm could adopt to mitigate these limitations and biases effectively, ensuring a robust risk management strategy.

$2\mathrm{.}2.$ Discus the common pitfalls of risk and control assessments.

$(10)$

End of assignment questions.

Good Luck!