The use of strong contracts with suppliers, labor unions, etc., is an example of what?
A) Risk enhancement
B) Risk elimination
C) Risk mitigation
D) Risk conduction

Question

Quizplus · Accepted Answer

The use of strong contracts with suppliers, labor unions, etc., is an example of risk mitigation. Risk mitigation involves taking steps to reduce the likelihood or impact of potential risks. Strong contracts help to mitigate the risk of disruptions or disagreements with suppliers or labor unions, as they provide clear expectations and consequences for failure to meet those expectations.

The Use of Strong Contracts with Suppliers, Labor Unions, Etc