Title: (Optional) Describe methods for managing risk.
Course: Marketing (12164) > Section: Understanding Risk Management

Description should include

- defining risk management as the systematic process of managing an organization’s risk exposure to achieve objectives in a manner consistent with public interest, human safety, environmental factors, and the law
- listing methods for managing risk and examples for each
  - prevention and control
  - transfer
  - retention
  - avoidance.

Process/Skill Questions:

- What is the purpose of having insurance coverage?
- What is a liability policy?
- How do businesses handle intellectual property?
- Why is it important for a new business to do a risk assessment?
- How does a business protect its assets from loss or damage?
- What roles can technology play in protecting a business against risk factors?
- Why should businesses have a crisis management plan?
- How can a business protect its confidential information?
- What are fidelity bonds? What is their relationship to risk management?