Evaluating Risks in Retail

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What is risk evaluation in retail?

Risk evaluation in retail involves assessing the significance of different risks to prioritize management efforts and resources.

Name a common tool used for evaluating risks in retail.

A common tool used for evaluating risks is a risk assessment matrix.

What is the first step in risk evaluation?

The first step is identifying potential risks that may affect the business.

Why is it important to evaluate risks in retail?

It helps businesses minimize losses, ensure customer safety, and maintain operational stability.

What does a risk probability assessment involve?

It involves estimating how likely a risk is to occur.





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1. What is risk evaluation in retail?

Risk evaluation in retail involves assessing the significance of different risks to prioritize management efforts and resources.

Risk evaluation in retail involves making financial projections.

Risk evaluation means adopting new marketing strategies.

It concerns increasing product inventory.

2. Name a common tool used for evaluating risks in retail.

A common tool used for evaluating risks is a risk assessment matrix.

Sales forecasting software.

Customer relationship management systems.

Marketing mix analysis tools.

3. What is the first step in risk evaluation?

The first step is identifying potential risks that may affect the business.

Securing insurance for all conceivable risks.

Hiring a new marketing team.

Expanding product lines to include riskier items.

4. Why is it important to evaluate risks in retail?

It helps businesses minimize losses, ensure customer safety, and maintain operational stability.

To increase tax liabilities.

To ensure compliance with marketing rules.

To diversify the workforce.

5. What does a risk probability assessment involve?

It involves estimating how likely a risk is to occur.

It involves determining the best marketing strategy.

Planning employee rotations.

Evaluating customer satisfaction surveys.