Which of the following best describes the preferred approach for managers confronted with risk?
A) They avoid it by any means necessary.
B) They eliminate it with a thorough understanding of the consequences of each option.
C) They anticipate it, minimize it, and control it.
D) They understand there is no way to manage it.
E) They thrive on taking risks.

Question

Quizplus · Accepted Answer

The preferred approach for managers confronted with risk is to anticipate it, minimize it, and control it. Avoiding risk completely is impractical, while attempting to eliminate it entirely is often too risky itself. Managers who are overly cautious, or who thrive on taking risks, may not be able to find the balanced approach necessary for effective risk management.

Which of the Following Best Describes the Preferred Approach for Managers