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Flashcards in 5 Risk Management Deck (4)
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what is risk management?

a process to identify the risk of business actions and decisions in order to minimize, control or eliminate the impact of risks


what are the 2 areas in which must be considered in risk management ?

the probability of implications and the actual consequences


what are some implications in global expansion?

disruptions to supplies, loss of customer confidence, damage to market reputation, business failure


what is a contingency planning?

a prepared course of action designed to help a business respond to future events that may or may not happen