State whether each of the following statements is TRUE or FALSE. 1. Risk management involves identifying, analysing, and mitigating risks. 2. Hazard risks include interest rate fluctuations. 3. Entrepreneurs should avoid all forms of risks. 4. SWOT analysis is a tool for risk identification. 5. Scenario building helps visualise risk responses. 6. Risk appetite defines how much risk an organisation is willing to accept. 7. Diversification is a risk reduction strategy. 8. A risk management framework must align with business goals. 9. Political risk is only relevant in unstable countries. 10. All risks can be eliminated through insurance.
State whether each of the following statements is TRUE or FALSE. 1. Risk management involves identifying, analysing, and mitigating risks. 2. Hazard risks include interest rate fluctuations. 3. Entrepreneurs should avoid all forms of risks. 4. SWOT analysis is a tool for risk identification. 5. Scenario building helps visualise risk responses. 6. Risk appetite defines how much risk an organisation is willing to accept. 7. Diversification is a risk reduction strategy. 8. A risk management framework must align with business goals. 9. Political risk is only relevant in unstable countries. 10. All risks can be eliminated through insurance.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section9.3: Single-stage Decision Problems
Problem 6P
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Transcribed Image Text:State whether each of the following statements is TRUE or FALSE.
1. Risk management involves identifying, analysing, and mitigating risks.
2. Hazard risks include interest rate fluctuations.
3. Entrepreneurs should avoid all forms of risks.
4. SWOT analysis is a tool for risk identification.
5. Scenario building helps visualise risk responses.
6. Risk appetite defines how much risk an organisation is willing to accept.
7. Diversification is a risk reduction strategy.
8. A risk management framework must align with business goals.
9. Political risk is only relevant in unstable countries.
10. All risks can be eliminated through insurance.
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