Generally speaking, what is the best approach to use when coping with potential losses?

Question

Quizplus · Accepted Answer

The best approach for coping with potential losses depends on various factors such as the nature and severity of the risk, the cost of transferring, avoiding or controlling the risk, the impact on the organization, and its risk tolerance. Therefore, there is no one best option for all situations, and the decision on risk management should be made after assessing all the relevant factors.

Generally Speaking, What Is the Best Approach to Use When