Question

When thinking about risk, what do the terms “impact” and “business impact” mean? How are they determined? How might these terms be different based on the “risk audience”?

Answer 1

Answer. When it comes to risk, the terms impec and impact on business' meeen that a business risk is that of a company or am organizeetion , something thely Causes a profit or marginal deeting in the bwiness. It's Cauliced business disko Amy thing thut hinders a company's gous or financial objectives is cenied business risk. These risks come from ditterent sources, so eg he's not always the manager who is the head of the company, other them that, the disk can come from other sources. Business aish occurs in one of the following pour risksi strategic risk incidentey sisk, operationcal disk, and quauity riski

Regardless of your pole ném the business, red is likely that most companies will . have to make a decision that often involves arisk factor. There are two types of aisit . These are two types of dish - There is no chance of either heppening or accepting the riske Consequences if theet helppens. Risk detection can be trickly, but it coes require management. And, if you do not consider a plem, it can affect the cost, time, cmel seputection . of the system, If there is a time when there is a risk involved in your coook, this makes the risk explanation a necessity. It helps identify, prevent, or understand the dangers you may pace in your space.

the risk and merminimize the impact on us.