3.6.3 - key factors in change
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt Play1/9
There's no tags or description
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
10 Terms
factors of change
size of organisation, corporate culture, resistance to change, time/speed of change
internal risk
a factor within the business that could negatively affect it and has more control over
external risk
a factor outside the business that it cannot control that could negatively affect the business
mitigation
reducing risks when they exist and limit the damage or getting rid of risks before they happen
what can risks harm
a business’ operational or financial security
inflation
reduce costs within the making of the product to reduce product price
risk assessment
formal document that businesses use to identify risk and meaure impact/likelyhood
contigency plan
a strategy that allows businesses to react to unexpected events
contigency plans are
public liability, insurance, security, crisis management, r+d, succession planning
what can’t a business do
plan for everything - but insurance helps
