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Importance of implementing risk management

    Assignment Instructions

    Assignment ID: FG133135124

    1. What is the importance of implementing Risk Management in a business or organization? What could be the impact of risk in an organization?

    2. Based on the four types of risks (strategic, operational, financial, and hazard), give two examples of risks that a business like Jollibee may encounter

    3. Explain risk likelihood and risk magnitude in your own words. Give an example of a risk that has a HIGH MAGNITUDE and LOW LIKELIHOOD.

    4. Choose two from the four risk responses ? AVOID – MITIGATE – ACCEPT – TRANSFER and give an example for each

    5. If you were a business owner, how would you manage the day to day risks that your business may face or encounter? Explain in your own words and give an example.

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