avoidance, transfer, and reduction
Not what you're looking for?
Risk management:
In what business situations would the methods of avoidance, transfer, and reduction/mitigation apply? Identify two situations for each of these and explain and justify your approach.
Purchase this Solution
Solution Summary
In what business situations would the methods of avoidance, transfer, and reduction/mitigation apply? Identify two situations for each of these and explain and justify your approach.
Solution Preview
Risk Avoidance: Risk avoidance is the simplest approach to reducing problems. It generally means not doing the things that could lead to the problem occurring. Unfortunately, risk avoidance may mean avoiding doing anything new, and hence not being able to benefit fully from business opportunities.
For example, a decision to abandon a new information technology project in the organization to avoid risks, such as risks related to failure of technology to serve the desired purpose, risk of resistance among the employees, etc. ...
Education
- BCom, SGTB Khalsa College, University of Delhi
- MBA, Rochester Institute of Technology
Recent Feedback
- "Thank you. "
- "Thank you"
- "Thank you. I got 20/20 last week for my discussion you help me out with."
- "Thank you. Great Job. "
- "Thank you. Great Job. "
Purchase this Solution
Free BrainMass Quizzes
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Introduction to Finance
This quiz test introductory finance topics.
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.