Management is reviewing the results of a recent risk assessment of the organization's policies and procedures.
During the risk assessment it is determined that procedures associated with background checks have not been effectively implemented.
In response to this risk, the organization elects to revise policies and procedures related to background checks and use a third-party to perform background checks on all new employees.
Which of the following risk management strategies has the organization employed?
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A. B. C. D. E.B.
The risk management strategy that the organization has employed in this scenario is "mitigate," as they have taken steps to reduce or lessen the risk associated with ineffective background checks.
The organization identified the risk through a risk assessment and determined that their current policies and procedures were not effectively addressing the issue. As a result, they decided to revise their policies and procedures related to background checks and engage a third-party to perform background checks on all new employees.
By implementing these changes, the organization has taken steps to reduce the risk of hiring employees with a history of criminal behavior or other issues that may pose a risk to the organization's security or reputation.
Other risk management strategies include:
In this scenario, the organization did not transfer the risk to another party, accept the risk without taking action, avoid the risk altogether, or reject the risk by not hiring new employees. Instead, they chose to mitigate the risk by revising their policies and procedures and engaging a third-party to perform background checks.