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Risk assessment in business

Quiz by Nekeisha King-Price

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Why is risk assessment important in business?
29
To maximize profits and revenue.
To identify potential risks and develop strategies to mitigate them.
To increase competition in the market.
To secure loans for business expansion.

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5 questions

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Q1
Why is risk assessment important in business?
To maximize profits and revenue.
To identify potential risks and develop strategies to mitigate them.
To increase competition in the market.
To secure loans for business expansion.
30s
Q2
What is a risk assessment tool?
A tool for managing employee performance.
A tool used for advertising and marketing purposes.
A tool for tracking inventory and supply chain.
A tool used to systematically evaluate and measure risks in a business.
30s
Q3
What is the purpose of a risk mitigation plan?
To eliminate all potential risks.
To secure loans for business expansion.
To increase competition in the market.
To reduce the probability and impact of identified risks.
30s
Q4
What is the first step in conducting a risk assessment?
Analyzing the impact of risks.
Implementing risk control measures.
Identifying potential risks.
Developing risk mitigation strategies.
30s
Q5
What is a key component of a risk assessment in business management?
Calculating the return on investment (ROI).
Analyzing customer satisfaction.
Assessing employee productivity.
Identifying the likelihood and impact of risks.
30s

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