3.6.3- scenario planning Flashcards
1
Q
What is scenario planning?
A
Process of anticipating possible changes in a business’s situation and devise ways to deal with them
2
Q
What are key risks for a business?
A
- natural disaster
- IT system failure
- loss of key staff
3
Q
What are 4 degree of risk mitigation?
A
1) risk acceptance
2) risk avoidance
3) risk limitation
4) risk transference
4
Q
What is risk acceptance?
A
Idea that without taking risks companies cannot generate profit
5
Q
What is risk avoidance?
A
Elimination of hazards, actives and exposures that can negatively affect an organisations assets
6
Q
What is risk limitation?
A
Risks can be limited by managing data carefully and having plenty of insurance
7
Q
Was is business continuity?
A
Capability of the business to continue delivery of products or services following a disruptive incident
