Risk Management With Ant And Grasshopper
One of the best ways in which you can understand a concept is the use of perfect examples. Have you read the story of the ant and the grasshopper? These two animals have a thing or two to teach on risk management. Try and read the story and see what you got on risk management from the story by taking the quiz below.
- 1.What is the biggest risk for Ant and Grasshopper during winter?
- A.
Winter cold
- B.
Starvation from food shortage
- C.
Short days
- D.
Naturals disasters, e.g. snowstorms
- 2.Who does better at managing risk?
- A.
The Ant
- B.
The Grasshopper
- 3.How does the Ant manage the risk?
- A.
By taking an insurance
- B.
By working hard
- C.
By preparing for the risk event
- D.
The Ant didn't mange risk, he just was lucky
- 4.Let us try to understand the effect of saving food during summer. By not using all his food in summer...
- A.
... the Ant averages the impact of the risk over time.
- B.
... the Ant increases the amount of food.
- C.
... the Ant increases the quality of food.
- D.
... the Ant stays fit and in shape.
- 5.Now let's have a look at the Grasshopper. There are several known problems and behavioral biases that prevent people or communities from implementing a risk management strategy. Which of those did the Grasshopper show most strongly in our story?
- A.
Lack of information or knowledge
- B.
Overconfidence
- C.
Procrastination
- D.
Short-term thinking
Questions: 10 | Attempts: 23581 | Last updated: Oct 26, 2021
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