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Various types of risk management must take into consideration while designing policies |
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Answer» The MAIN categories of risk to consider are:•••strategic, for example a competitor coming on to the market.•••compliance, for example the introduction of new health and safety legislation.•••financial, for example non-payment by a CUSTOMER or increased interest charges on a business loan•••Avoidance (eliminate, withdraw from or not BECOME involved)•••Reduction (optimize – mitigate)•••Sharing (transfer – outsource or insure)•••Retention (ACCEPT and budget)EXPLANATION:HOPE THIS HELPED YOU |
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