Risk Avoidance

Avoidance of risk, mitigation
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Avoidance refers to avoiding the risk that is found altogether. When mitigating risk, there are four strategies used, one of them being avoidance. Avoidance is to avoid the risk altogether; an example would be having a business step away from related business activities that cause the risk.

Related Terms: Risk Mitigation, Risk Acceptance, Risk Transfer

To learn more about these strategies, watch this short video:

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