Evaluating Risks in Retail

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What is risk evaluation in retail?
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Risk evaluation in retail involves assessing the significance of different risks to prioritize management efforts and resources.
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Name a common tool used for evaluating risks in retail.
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A common tool used for evaluating risks is a risk assessment matrix.
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What is the first step in risk evaluation?
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The first step is identifying potential risks that may affect the business.
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Why is it important to evaluate risks in retail?
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It helps businesses minimize losses, ensure customer safety, and maintain operational stability.
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What does a risk probability assessment involve?
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It involves estimating how likely a risk is to occur.
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