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Risk Management

Author: Jeff Carroll

Source: Image of danger sign, factory, cloud with lightning, images by Video Scribe, License held by Jeff Carroll.

Video Transcript
Terms to Know
Pure Risks

A type of risk that creates only a loss or no loss situation.

Risk Management

Classifying and evaluating potential hazards for an organization and developing a systematic response (or non-response) to avert or lower the damage.

Speculative Risk

A type of risk that can create a loss or gain in the situation.