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WorksheetsTopic 4: Opportunity and Risk
Total questions: 15
Worksheet time: 8mins
How do opportunities for enterprise arise?
Inventing a new product.
Selling a product at a cheaper price.
Changing needs or wants for a product.
Which of the following is NOT the cause of how enterprise opportunities can arise.
Changes in the ability to meet needs and wants.
Outdated in technology
Changes in government policy.
Define the term "Opportunity".
A time or event that makes it possible to do something.
Something given in recognition of effort or return for something achieved.
The chance of gaining or losing something as a result of an action taken.
"Something given in recognition of effort or return for something achieved" is a definition of which term?
Risk
Reward
Opportunity
Risks can be positive or negative. Which of the following is "NOT" an example of risk?
It is not certain to make a profit.
Choosing the wrong pricing.
Customer places order with full payment.
Financial risks, Economic risks, Health and Safety risks, Human Resources risk, and _____________ risks are the risk that an enterprise has to deal with.
Population
Environment
Production
What is the 1st stage of risk management?
Analyse the implications of risk.
Identify the risks.
Monitor and review the plan.
What is the 4th stage of risk management?
Plan how to manage the risk.
Decide if the risk is worth taking or not.
Analyse the implication of risk.
How does an enterprise identify and analysis risk?
By conducting research.
By observing and interviewing people.
By SWOT analysis and PEST analysis
What does T stand for in P.E.S.T?
Technology
Telecommunication
Television
What does T stand for in S.W.O.T?
Teamwork
Threat
Technology
Which factors of S.W.O.T analysis analyse the internal risk factors of an enterprise.
Strength and Weakness
Technology and Opportunity
Strength and Threat
P.E.S.T analysis is used to identify __________ factors that could have an impact on an enterprise.
Internal
both, internal and external
external
(M.A.T.E) Mitigate, Accept, Transfer and Eliminate is one of a strategy to _____________.
help make decisions.
plan manage risk.
monitor the risk
Which of the following are the main attitudes to risk.
Risk-taker, Risk-keen, and Risk-reducer
Risk-averse, Risk-taker, and Risk-reducer
Risk-averse, Risk-keen and Risk-reducer
