Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
301 Key Term
Risk
| Term | Definition |
|---|---|
| Acceptance | a risk response strategy that involves accepting a risks consequence excuse the potential payoff i higher than the losses |
| audit report | a document that describes the accuracy and appropriate of business information process and or system |
| avoidance | a risk response strategy that involves choosing not to do something that is considered risky |
| brand erosion | the deterioration or destruction of a corporate or product brand |
| chief risk officer (CRO) | an executive responsible for a business risk management activities which include the planning controlling preventing and limiting of business losses and enhancing possibilites for gain |
| contingency plan | specific guidelines and activities used when responding to undesirable circumstances an alternatives course of action |
| credit down grade | the reduction of business credit ration or measures of relative credit risk usually accomplice by an increase in expenses and a decrease in credit worthiness |
| environmental scan | a three step process in which businesses gather information about their surrounding analyze that information and determine the future impact of that information |
| exchange rate | the price or value at which one currency can be converted to another |
| fallback plan | guidelines explaining what to do and how to recover if a contingency plan fails |
| financial risks | possible events and situations that directly impact a company cash flows |
| hazard risks | potential events and situation that can cause injuries harm to people, property the environment |
| impact | the effect or influence of an event |
| incident log | a record of accidents injures and other mishaps occurring at a particular business or in a certain department |
| mitigation | a risk response strategy that involve reducing or controlling the impact of a risk if it occurs |
| operational risks | possible events and situations resulting from employees action core processes and daily business activities |
| proactive | adapting to the environment in advance of the occurrence of events taking advantages of opportunity's rather than reacting to problems |
| probability | the likelihood that an event will occur |
| prospective risk | risks that have not happen before but could occur in the future |
| pure risks | a risk that carries the possibilities of loss or no loss |
| reactive | hesitant to take action passive waiting for changes to occur before acting |
| retroactive risks | risks that have previously occurred |
| risk | the possibilities of loss or gain |
| risk averse | avoiding risk whenever possible |
| risk checklist | a standardizing list of risk that a business faces on a regular basis used to speed up the risk identification process |
| risk identification | a risk management process that involves recognizing that could impact a business objectives and activities |
| risk impact/ probability chart | a framework used to determine the severity of risks if they occurs used by risk managers to prioritized risks |
| risk management | a business activity that involves the planning controlling preventing and limiting of business losses and enhancing possibilities for gain. |
| risk monitoring and control | a risk management process that involves determining the effectiveness of current risk response strategies and tools tracking existing risks monitoring new risks and developing response |
| risk register | a record or listing of risks that could potienally impact a business or project |
| risk response | a risk management process that involve selecting the most effective ways to handle differ risks |
| risk seeking | looking for ways to turn risks into a strategic advantage and or capital |
| risk tolerant | accepting risk when necessary but not seeking risk |
| speculative risk | a risk that may result in loss no change or gain |
| strategic risk | possible events and situations that can affect the executor of an organizations long term plan |
| transference | a risk response strategy that involves moving the impacts of a risk to someone or something else |
Created by:
matthew.i235
Popular Business sets