COMM 300 Lecture Notes - Ultra Vires, Liability Insurance, Betta
Document Summary
The three steps in risk management are identification, evaluation, and response. Alpha corp has discovered that one of its products is potentially dangerous. It has employed a form of risk management known as: risk shifting. Betta inc has discovered that one of its products is potentially dangerous. It therefore pulled that product from the store shelves before any were sold. It has employed a form of risk management known as risk avoidance. Gamma co has discovered that one of its products is potentially dangerous. There is only a small chance that someone will be hurt, and even if someone is hurt, the injury will not be life-threatening. Gamma co therefore has decided to do nothing about the danger. It has employed a form of risk management known as: none of the above. In an effort to increase sales, delta ltd hired chandra, a marketing expert.
