You own and operate a small pizza shop.The shop has been profitable but it needs renovation.You start the renovation only to discover that a pizza chain has bought a vacant building two blocks away and plans to open a shop within 120 days.Undoubtedly, competition will intensify.You decide to accelerate renovation work.You are trying to:
A)escalate the risk
B)avoid risk
C)greatly minimize risk
D)better manage risk by trying to improve your shop significantly before the other one opens

Question

Quizplus · Accepted Answer

By improving your shop significantly before the other one opens, you are better managing the risk of increased competition. This will help ensure that your loyal customers remain loyal and may even attract new customers. It is also a proactive approach rather than avoiding or escalating the risk.

You Own and Operate a Small Pizza Shop