Risks, opportunities Flashcards
1
Q
Opportunity
A
Time or event that makes it possible to do something.
2
Q
Reward
A
Something given in recognition of effort.
3
Q
Risk
A
Chance of gaining or losing something as a result of an action taken.
4
Q
Stages of risk management
A
- Identify the risk: PEST and SWOT
- Analyze the implications
- Decide if it’s worth it
- Plan to manage: Mitigate, Accept, Transfer or Eliminate (MATE)
- Monitor risk
5
Q
Attitudes to risk
A
Averse, keen or reducer
6
Q
Legal obligations
A
Employment, working, marketing and selling and finance
