Subject-Business law Q1-Describe the steps to take in devising a legal risk management plan Q2-Why do business people increasingly opt for ADR rather than civil litigation to resolve disputes ?
Selective Demand Advertising
Advertising includes communicating with people regarding a product or any service or an idea to sell or promote them. Advertising attracts the consumer towards a specific brand or to a product of a brand which enables them to buy products from that company and hence the company can prosper. Advertising is important both for the company which is in the industry for a longer period of time and even for those who are just starting up with their business. These days it is found that not only the transmission of the messages of a particular brand is done through television or radio but also it is done on the social media platform. Particularly for homegrown brands, social media has become one of the most important platforms which promote the advertising of their products and attract consumer to demand the same. The strategy to have a good advertising background is important for marketing a particular company or a brand.
Primary Demand Advertising
This topic is significant in the professional exams for both undergraduate and graduate courses, especially for
Answer - 1 -
A good risk management plan carries number of tools and strategies to mitigate risk. The strategy may be to avoid risk or transfer a component of it another project so that the impact is reduced. The process of identifying risks, assessing risks and developing strategies to manage risks is known as risk management. A risk management plan and a business impact analysis are important parts of your business continuity plan. When risks of a project is to be planned then risks are still uncertain: they haven’t happened yet. But eventually, some of the risks that has been planned for do happen, and that’s when it has to be dealt with. The steps to take in devising a legal risk management plan are as follows -
- Framing a risk management framework
- Developing action plan
- Human resource deployment
- Identify the legal risks
- Analyse the risks
- Evaluate the legal risks
- Communicate and advice
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