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List the three categories of risk you may encounter when developing the plan, one example of each and at least one way of minimising each risk Ans. The three categories of risk that I may encounter when developing the plan, one example of each and at least one way of minimising each risk are- T1,Q13.

List the three categories of risk you may encounter when developing the plan, one example of each and at least one way of minimising each risk Ans. The three categories of risk that I may encounter when developing the plan, one example of each and at least one way of minimising each risk are- T1,Q13.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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List the three categories of risk you may encounter when developing the plan, one example of each and at least one way of minimising each risk Ans. The three categories of risk that I may encounter when developing the plan, one example of each and at least one way of minimising each risk are- T1,Q13. 1. Opportunity based-Risk from choosing wrong one over other option 2. Uncertainty based- Risk from unknown events as natural diseases and loss of supplies 3.Hazard based- Risk from dangerous material are actions
Transcribed Image Text:List the three categories of risk you may encounter when developing the plan, one example of each and at least one way of minimising each risk Ans. The three categories of risk that I may encounter when developing the plan, one example of each and at least one way of minimising each risk are- T1,Q13. 1. Opportunity based-Risk from choosing wrong one over other option 2. Uncertainty based- Risk from unknown events as natural diseases and loss of supplies 3.Hazard based- Risk from dangerous material are actions
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