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Defining the internal and external environment.

Understanding BS 31100: The Definitive Guide to the Code of Practice for Risk Management bs 31100 pdf

Moving the risk to a third party (e.g., insurance). Defining the internal and external environment

Determining the best response strategy—whether to tolerate, treat (mitigate), transfer (insure), or terminate (avoid) the risk. bs 31100 pdf

By understanding the risks involved, leadership can make more informed strategic choices.

Understand the internal and external environment.