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RMI 2302 Nyce Module 2 Solved with Complete Solutions
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RMI 2302 Nyce Module 2 Solved with Complete Solutions
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RMI 2302 Nyce Module 2 Solved withComplete Solutions
A Scientific View of Risk - ANSWER-Probability of a person suffering an adverse effect
from some activity or exposure over a given period of time/involvement.
-ADDS A TIME ELEMENT
According to "Innovation Risk: How to Make Smarter Decisions", mathematical
modeling is more precise than which of the following? - ANSWER-Human cognition
According to "Innovation Risk: How to Make Smarter Decisions", the infrastructure
should be changed based on every new innovation. TRUE/FALSE - ANSWER-FALSE
Pace of innovations in some industries is very high, so changing infrastructure to
accommodate every innovation that comes along is infeasible
According to "Innovation Risk: How to Make Smarter Decisions", the utility of a model
depends on the model itself, why it's being used and which of the following? -
ANSWER-Who is using the model
According to "Innovation Risk: How to Make Smarter Decisions", which of the following
is NOT one of the five rules of thumb to minimizing risk? - ANSWER-Determine which
risks are being faced
According to "Innovation Risk: How to Make Smarter Decisions", which one of the
following was NOT one of the simultaneous factors of the recent financial crisis? -
ANSWER-High interest rates
According to "Innovation Risk: How to Make Smarter Decisions", you use models every
day. Why is it that you don't recognize that you're using a model? - ANSWER-Models
that apply to real-life situations are often applied semiconsciously.
Acknowledge Your Model's Limitations - ANSWER-Incorrect versus Incomplete Models
Check the Infrastructure - ANSWER-Consequences of Innovation
Benefits/risks in large are determined by the infrastructure into which the innovation is
introduced
Pace of innovations in some industries is very high, so changing infrastructure to
accommodate every innovation that comes along is infeasible
Changes in infrastructure usually lag changes in products and services, and that
imbalance can be a major source of risk.
Expect the Unexpected - ANSWER-Some Factors Will be Overlooked
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