Which risk response strategy involves accepting the risk and taking no action?
- Acceptance
- Avoidance
- Mitigation
- Transference
The risk response strategy that involves accepting the risk and taking no action is "Acceptance." In certain situations where the impact is minimal or the cost of mitigation is higher than the potential loss, accepting the risk may be a valid strategy. It acknowledges the risk but opts not to intervene, emphasizing a conscious decision to tolerate the potential consequences without active mitigation efforts.
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