The ways information decreases risk when a personal or work-related decision is made. Introduction: Decision making process is consistent and basic part of dealing with any association or business exercises. Decisions are made to maintain the actions of all business activities and hierarchical working.

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Answer 1

Question

Chapter 15, Problem 1CC

Summary Introduction

To determine: The ways information decreases risk when a personal or work-related decision is made.

Introduction: Decision making process is consistent and basic part of dealing with any association or business exercises. Decisions are made to maintain the actions of all business activities and hierarchical working.

Expert Solution & Answer

Explanation of Solution

The ways information decreases risk when a personal or work-related decision is made are as follows:

The additional information obtained by a manager leads to a lesser risk in making inaccurate decisions; hypothetically, with precise and comprehensive data, there is no risk at all. Then again, a decision made with no data is a risk. These two intense circumstances are uncommon in business.

Generally, business decisions see themselves found somewhere between either excessive. A similar fundamental presumption applies to a person who needs to settle on a decision. If there is less information there are high possibilities of more risk, if there is more information there are high possibilities of less risk.

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Students have asked these similar questions

You are a security professional that does consulting work for small-sized and medium-sized businesses. You have been approached by a family-owned ice cream shop and asked to perform a risk assessment on its business. The company makes several flavors of homemade ice cream using secret recipes. The recipes are kept on the owner’s laptop. A new ice cream shop is opening down the street, and the company’s owner is concerned about losing business to the new shop. As a consultant, how can you identify the assets, threats, and vulnerabilities for this business?

1) All of these are risk management approaches except a) Risk avoidance b) Risk acceptance c) Risk conformance d) Risk transference

Why is recognizing and describing a business risk important?

Answer 2

Question

Chapter 15, Problem 1CC

Summary Introduction

To determine: The ways information decreases risk when a personal or work-related decision is made.

Introduction: Decision making process is consistent and basic part of dealing with any association or business exercises. Decisions are made to maintain the actions of all business activities and hierarchical working.

Expert Solution & Answer

Explanation of Solution

The ways information decreases risk when a personal or work-related decision is made are as follows:

The additional information obtained by a manager leads to a lesser risk in making inaccurate decisions; hypothetically, with precise and comprehensive data, there is no risk at all. Then again, a decision made with no data is a risk. These two intense circumstances are uncommon in business.

Generally, business decisions see themselves found somewhere between either excessive. A similar fundamental presumption applies to a person who needs to settle on a decision. If there is less information there are high possibilities of more risk, if there is more information there are high possibilities of less risk.

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Answer 3

Question

Chapter 15, Problem 1CC

Summary Introduction

To determine: The ways information decreases risk when a personal or work-related decision is made.

Introduction: Decision making process is consistent and basic part of dealing with any association or business exercises. Decisions are made to maintain the actions of all business activities and hierarchical working.

Expert Solution & Answer

Explanation of Solution

The ways information decreases risk when a personal or work-related decision is made are as follows:

The additional information obtained by a manager leads to a lesser risk in making inaccurate decisions; hypothetically, with precise and comprehensive data, there is no risk at all. Then again, a decision made with no data is a risk. These two intense circumstances are uncommon in business.

Generally, business decisions see themselves found somewhere between either excessive. A similar fundamental presumption applies to a person who needs to settle on a decision. If there is less information there are high possibilities of more risk, if there is more information there are high possibilities of less risk.

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Answer 4

Question

Chapter 15, Problem 1CC

Summary Introduction

To determine: The ways information decreases risk when a personal or work-related decision is made.

Introduction: Decision making process is consistent and basic part of dealing with any association or business exercises. Decisions are made to maintain the actions of all business activities and hierarchical working.

Expert Solution & Answer

Explanation of Solution

The ways information decreases risk when a personal or work-related decision is made are as follows:

The additional information obtained by a manager leads to a lesser risk in making inaccurate decisions; hypothetically, with precise and comprehensive data, there is no risk at all. Then again, a decision made with no data is a risk. These two intense circumstances are uncommon in business.

Generally, business decisions see themselves found somewhere between either excessive. A similar fundamental presumption applies to a person who needs to settle on a decision. If there is less information there are high possibilities of more risk, if there is more information there are high possibilities of less risk.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 15, Problem 1CC

Summary Introduction

To determine: The ways information decreases risk when a personal or work-related decision is made.

Introduction: Decision making process is consistent and basic part of dealing with any association or business exercises. Decisions are made to maintain the actions of all business activities and hierarchical working.

Expert Solution & Answer

Explanation of Solution

The ways information decreases risk when a personal or work-related decision is made are as follows:

The additional information obtained by a manager leads to a lesser risk in making inaccurate decisions; hypothetically, with precise and comprehensive data, there is no risk at all. Then again, a decision made with no data is a risk. These two intense circumstances are uncommon in business.

Generally, business decisions see themselves found somewhere between either excessive. A similar fundamental presumption applies to a person who needs to settle on a decision. If there is less information there are high possibilities of more risk, if there is more information there are high possibilities of less risk.

Answer 6

Chapter 15, Problem 1CC

Summary Introduction

To determine: The ways information decreases risk when a personal or work-related decision is made.

Introduction: Decision making process is consistent and basic part of dealing with any association or business exercises. Decisions are made to maintain the actions of all business activities and hierarchical working.

Expert Solution & Answer

Explanation of Solution

The ways information decreases risk when a personal or work-related decision is made are as follows:

The additional information obtained by a manager leads to a lesser risk in making inaccurate decisions; hypothetically, with precise and comprehensive data, there is no risk at all. Then again, a decision made with no data is a risk. These two intense circumstances are uncommon in business.

Generally, business decisions see themselves found somewhere between either excessive. A similar fundamental presumption applies to a person who needs to settle on a decision. If there is less information there are high possibilities of more risk, if there is more information there are high possibilities of less risk.

Answer 7

Chapter 15, Problem 1CC

Summary Introduction

To determine: The ways information decreases risk when a personal or work-related decision is made.

Introduction: Decision making process is consistent and basic part of dealing with any association or business exercises. Decisions are made to maintain the actions of all business activities and hierarchical working.

Answer 8

Expert Solution & Answer

Explanation of Solution

The ways information decreases risk when a personal or work-related decision is made are as follows:

The additional information obtained by a manager leads to a lesser risk in making inaccurate decisions; hypothetically, with precise and comprehensive data, there is no risk at all. Then again, a decision made with no data is a risk. These two intense circumstances are uncommon in business.

Generally, business decisions see themselves found somewhere between either excessive. A similar fundamental presumption applies to a person who needs to settle on a decision. If there is less information there are high possibilities of more risk, if there is more information there are high possibilities of less risk.