3.6.3 Scenario planning Flashcards
1
Q
What is scenario planning?
A
The process of anticipating possible changes in a business’s situation and finding ways to deal with them.
2
Q
What is risk acceptance?
A
the acceptance that there is an element of risk to every business venture.
3
Q
What is risk avoidance?
A
The elimination of hazards that can affect the business
4
Q
How can risk be limited?
A
- Become a LTD to gain limited liability
5
Q
What is business continuity?
A
The capability of an organisation to deliver products following a disruptive incident
