Onsite Class Activities Overview

Questions and Answers

Which of the following risks may affect multiple tourism businesses?

Theft of property

Extreme weather and climate (correct)

Loss of customers

Injury to staff

What does the term 'risk' generally refer to in risk management?

The physical location of a business

All possible business challenges

Only the potential losses from theft

A specific hazard or danger that has been identified (correct)

What is meant by 'consequence' in the context of risk?

The underlying cause of the risk

The actions taken to mitigate the risk

The potential effects of the risk occurring (correct)

The estimated financial loss

What is the first step in the process of risk assessment?

Finding the risks Signup and view all the answers

Which factor is NOT mentioned as a possible cause of risk?

Unsuitable pricing strategies Signup and view all the answers

What does effective risk spotting and analysis contribute to?

Good risk management decision-making Signup and view all the answers

What is the most important component of risk according to the given content?

Uncertainty Signup and view all the answers

What is an example of a risk event in the tourism industry?

An accident occurring during a tour Signup and view all the answers

How does human understanding affect the perception of risks in businesses?

It shapes how risks are viewed and thought about. Signup and view all the answers

How is risk typically measured in risk management?

As a forecast based on chance estimates Signup and view all the answers

Which statement best describes probabilities in the context of risk management?

They are ideas based on past events and assumptions. Signup and view all the answers

What is the primary challenge of predicting future events in risk management?

Past events do not inform future probabilities. Signup and view all the answers

In the context of risk, which of the following best describes the relationship between probability and reality?

Probabilities are subjective ideas about potential events. Signup and view all the answers

What does the content suggest about predicting the future of risks?

It requires a comprehensive understanding of human behavior. Signup and view all the answers

Why should businesses adopt a 4.0 viewpoint regarding risk?

It provides a new perspective on unpredictability. Signup and view all the answers

Which of the following best illustrates a misconception about risk management?

Risk can be totally eliminated through effective strategies. Signup and view all the answers

Which of the following is an example of a disruption related to People?

Improper management practices by a manager Signup and view all the answers

Which of the following disruptions is categorized under Processes?

Failures in communication or transportation Signup and view all the answers

What type of disruption does 'loss or damage to property' fall under?

Premises Signup and view all the answers

Which of the following is NOT a process-related disruption?

Too few restrictions in place Signup and view all the answers

What is an example of a disruption that affects Products?

Supplier failure Signup and view all the answers

Which disruption relates to the Premises category?

Delivery of items that have been used Signup and view all the answers

Which of the following is an example of People-related operational disruption?

Sudden absence of important partners Signup and view all the answers

How does 'theft of physical property' classify in terms of disruption categories?

Premises Signup and view all the answers

Which of the following disruptions could lead to significant operational issues in Processes?

IT equipment or software failure Signup and view all the answers

Identify an example of a disruption affecting a company’s Products.

Logistics failure Signup and view all the answers

Which of the following is considered a natural hazard?

Tsunami Signup and view all the answers

Which category includes issues related to ecological concerns such as pollution and loss of biodiversity?

Environmental Signup and view all the answers

What type of risk involves potential threats to public access and safety?

Public liability Signup and view all the answers

Which of the following best defines financial risks?

Contract hazards and fraud Signup and view all the answers

What is not a reason for negative psychological/emotional associations?

Effective safety management Signup and view all the answers

Which aspect is included in human risks?

Terrorism Signup and view all the answers

In which risk category does insufficient product testing fall?

Product liability Signup and view all the answers

What does a very high risk rating categorize?

The risk is not acceptable at all. Signup and view all the answers

What describes a facility that is too ruined or contaminated to be used?

Devastating Signup and view all the answers

Which level of impact indicates slight damage or contamination?

Severe Signup and view all the answers

What is the maximum downtime associated with a minor impact classification?

Less than 4 hours Signup and view all the answers

How is vulnerability defined in the context provided?

How appealing a facility is as a target Signup and view all the answers

In the risk matrix, which level of vulnerability corresponds with a ‘Devastating’ impact under a Credible Threat?

High Signup and view all the answers

Which combination of impact and vulnerability is associated with a ‘Noticeable’ impact under a Minimal Threat?

Low Vulnerability Signup and view all the answers

What vulnerability rating indicates the highest risk level?

Very High Signup and view all the answers

Which impact rating has a longer downtime than any other classification?

Devastating Signup and view all the answers

What does a ‘Minor’ impact imply in terms of operational interruption?

Operations can continue without interruption Signup and view all the answers

Under a Defined Threat, which impact rating is associated with High vulnerability?

Severe Signup and view all the answers

What happens when a facility experiences a ‘Noticeable’ impact in terms of operational capability?

Operational continuity is minimally affected Signup and view all the answers

Which vulnerability rating directly suggests reduced attractiveness as a target?

Low Signup and view all the answers

In the risk matrix for Potential Threat, which impact with Very High vulnerability is characterized as Devastating?

Devastating Signup and view all the answers

What is a primary characteristic of a facility that has a ‘Severe’ impact?

Slightly damaged or contaminated Signup and view all the answers

Study Notes

Onsite Activities

Class activities include discussions, recitations, modules, worksheets, individual performance tasks, group projects, and presentations.
Lesson handouts are provided via Google Classroom.

Introduction to Risk Management

Risk involves uncertainty related to future events, particularly in small and medium-sized businesses.
Human perception and cultural context heavily influence the understanding of risks.
Risks can affect multiple entities or be specific to an individual business.
Risks have identifiable causes (e.g., unsafe conditions) and effects (consequences).

Defining and Recognizing Risks

Effective risk management involves identifying the causes and potential impacts of risks.
Risk is a combination of the hazard identified and its potential consequences.

Risk Assessment and Identification

Risk assessment begins with recognizing various types of risks, focusing on operational disruptions categorized under people, premises, processes, and products.

Categories of Operational Disruption

People: Issues like low finances or improper management practices.
Premises: Problems such as property damage or theft.
Processes: Challenges like IT failures and poor communication.
Products: Concerns include poor quality, supplier failures, and logistics issues.

Vulnerability Assessment

Vulnerability signifies how appealing a target is versus the effectiveness of countermeasures.
Vulnerability is rated from very high to low.

Risk Impact Matrix

Categorizes risks based on impact (minor, noticeable, severe, devastating) and vulnerability.
Evaluates the potential threat level based on the impact of loss against the vulnerability rating.

Potential Risks to Tourism

Health concerns, economic fluctuations, and negative publicity can impact tourism adversely.
Environmental and financial risks involve pollution, theft, and economic fraud.
Human threats may include terrorism and violence, while natural hazards encompass earthquakes and climate issues.

Risk Rating Interpretation

Very High Risk: Indicates an unacceptable level of risk.

Conclusion

Effective risk management blends assessment, recognition, and strategic planning to mitigate potential hazards in business operations.

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Description

This quiz covers various onsite activities such as class discussions, recitations, and performance tasks. It also includes information about group projects and presentations. Review the different strategies for engaging students and assessing their learning outcomes.

Onsite Class Activities Overview

Questions and Answers

Which of the following risks may affect multiple tourism businesses?

What does the term 'risk' generally refer to in risk management?

What is meant by 'consequence' in the context of risk?

What is the first step in the process of risk assessment?

Which factor is NOT mentioned as a possible cause of risk?

What does effective risk spotting and analysis contribute to?

What is the most important component of risk according to the given content?

What is an example of a risk event in the tourism industry?

How does human understanding affect the perception of risks in businesses?

How is risk typically measured in risk management?

Which statement best describes probabilities in the context of risk management?

What is the primary challenge of predicting future events in risk management?

In the context of risk, which of the following best describes the relationship between probability and reality?

What does the content suggest about predicting the future of risks?

Why should businesses adopt a 4.0 viewpoint regarding risk?

Which of the following best illustrates a misconception about risk management?

Which of the following is an example of a disruption related to People?

Which of the following disruptions is categorized under Processes?

What type of disruption does 'loss or damage to property' fall under?

Which of the following is NOT a process-related disruption?

What is an example of a disruption that affects Products?

Which disruption relates to the Premises category?

Which of the following is an example of People-related operational disruption?

How does 'theft of physical property' classify in terms of disruption categories?

Which of the following disruptions could lead to significant operational issues in Processes?

Identify an example of a disruption affecting a company’s Products.

Which of the following is considered a natural hazard?

Which category includes issues related to ecological concerns such as pollution and loss of biodiversity?

What type of risk involves potential threats to public access and safety?

Which of the following best defines financial risks?

What is not a reason for negative psychological/emotional associations?

Which aspect is included in human risks?

In which risk category does insufficient product testing fall?

What does a very high risk rating categorize?

What describes a facility that is too ruined or contaminated to be used?

Which level of impact indicates slight damage or contamination?

What is the maximum downtime associated with a minor impact classification?

How is vulnerability defined in the context provided?

In the risk matrix, which level of vulnerability corresponds with a ‘Devastating’ impact under a Credible Threat?

Which combination of impact and vulnerability is associated with a ‘Noticeable’ impact under a Minimal Threat?

What vulnerability rating indicates the highest risk level?

Which impact rating has a longer downtime than any other classification?

What does a ‘Minor’ impact imply in terms of operational interruption?

Under a Defined Threat, which impact rating is associated with High vulnerability?

What happens when a facility experiences a ‘Noticeable’ impact in terms of operational capability?

Which vulnerability rating directly suggests reduced attractiveness as a target?

In the risk matrix for Potential Threat, which impact with Very High vulnerability is characterized as Devastating?

What is a primary characteristic of a facility that has a ‘Severe’ impact?

Study Notes

Onsite Activities

Introduction to Risk Management

Defining and Recognizing Risks

Risk Assessment and Identification

Categories of Operational Disruption

Vulnerability Assessment

Risk Impact Matrix

Potential Risks to Tourism

Risk Rating Interpretation

Conclusion

Studying That Suits You

Description

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