Risk Management in Tourism and Hospitality
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Questions and Answers

According to UNWTO, what is the definition of risk?

  • A situation that exposes someone or something to danger or loss (correct)
  • The probability of threat of damage, injury, liability, or any other adverse occurrence
  • Future uncertainty about deviation from expected earnings or expected outcome
  • The uncertainty that an investor is willing to take

    • What does risk management apply to?

  • Financial business risk
  • Safety, security, and sanitation (correct)
  • Property loss
  • Physical safety matters

    • How does the business dictionary define risk?

  • A situation that exposes someone or something to danger or loss
  • The uncertainty that an investor is willing to take
  • Future uncertainty about deviation from expected earnings or expected outcome
  • The probability of threat of damage, injury, liability, or any other adverse occurrence (correct)

    • In the context of economics, what does risk imply?

    <p>Future uncertainty about deviation from expected earnings or expected outcome</p> Signup and view all the answers

    When does risk attach to a person engaging in the business of tourism and hospitality?

    <p>From the moment a person engages in the business</p> Signup and view all the answers

    What are the different types of risks that can be associated with the business of tourism and hospitality?

    <p>Physical safety matters, risk of property loss, and financial business risks.</p> Signup and view all the answers

    How does UNWTO define risk?

    <p>A situation that exposes someone or something to danger or loss.</p> Signup and view all the answers

    According to the business dictionary, how is risk defined?

    <p>The probability of threat of damage, injury, liability, or any other adverse occurrence that is caused by external or internal vulnerabilities, and that may be avoided through preemptive action.</p> Signup and view all the answers

    In the context of economics, what does risk measure?

    <p>The uncertainty that an investor is willing to take to real.</p> Signup and view all the answers

    What is the definition of risk management?

    <p>The process of identifying, assessing, and prioritizing risks, and taking measures to minimize, monitor, and control the impact of those risks.</p> Signup and view all the answers

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