One of the important first steps in a risk management strategy for a company is to:
A) establish related risk and product controls.
B) analyse the impact of the risk exposure.
C) select appropriate risk management strategies.
D) continually monitor the existing strategies.

Question

Quizplus · Accepted Answer

Analyzing the impact of risk exposure is a crucial initial step in risk management as it helps in understanding the potential consequences and prioritizing risks, which informs the development of effective strategies.

One of the Important First Steps in a Risk Management