TABLE 1 Hazard Risk Poisonous snake hiding in the bush Sharp tool at the edge of a cliff Texting while driving High voltage electricity cable Fixing the roof For any industry to be successful, it has to be safe, reliable and sustainable in its operations. The industry has to identify the hazards and assess the associated risks and bring the risks to a tolerable level. But, in order to do that, first, you must have a clear differentiation between these two. Classified this item into Hazard or Risk by marking (X) in TABLE 1 in the appropriate column. Then, explain what changes a hazard into a risk.
TABLE 1 Hazard Risk Poisonous snake hiding in the bush Sharp tool at the edge of a cliff Texting while driving High voltage electricity cable Fixing the roof For any industry to be successful, it has to be safe, reliable and sustainable in its operations. The industry has to identify the hazards and assess the associated risks and bring the risks to a tolerable level. But, in order to do that, first, you must have a clear differentiation between these two. Classified this item into Hazard or Risk by marking (X) in TABLE 1 in the appropriate column. Then, explain what changes a hazard into a risk.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Transcribed Image Text:TABLE 1
Hazard
Risk
Poisonous snake hiding in the bush
Sharp tool at the edge of a cliff
Texting while driving
High voltage electricity cable
Fixing the roof
Transcribed Image Text:For any industry to be successful, it has to be safe, reliable and sustainable in its operations.
The industry has to identify the hazards and assess the associated risks and bring the risks to a
tolerable level. But, in order to do that, first, you must have a clear differentiation between these
two. Classified this item into Hazard or Risk by marking (X) in TABLE 1 in the appropriate
column. Then, explain what changes a hazard into a risk.
Expert Solution
Step 1
A hazard can be stated as something that can result in harm for example- working with electric instruments and driving a bike without a proper helmet. A risk can be stated as the chance, more or less than any hazard will actually result in harm. Crossing a highway can be very risky if not crossed with proper care.
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