(15-1,2,5,9) 1. If an organization deliberately tolerates a possibility of loss, is this possibility a stra- tegic or an external risk? 2. Consider three organizations, one operating during an emergency, one during a cri- sis, and one during a disaster. By definition of the three terms, which organization has the best potential to stop any loss before it happens? 3. A manager assumes an unlikely request in an order must be the result of some unusual customer. Is this an example of outcome bias or normalization? 4. Does increasing redundancy increase or decrease overall utilization of the system?

1) It will be termed as Strategic in nature as the organization deliberately tolerates a possibility of loss. If it happens suddenly and without anticipation, then it will be external risk

2) During crisis organization has best potential to stop any loss as at that time, people are very cautious and take decisions in best interest.

3) Outcome bias. It is due to the error in evaluating decision quality although the outcome of decision was already known

4) Increasing redundancy will decrease the overall utilization of the system as there will be excess capacity. Hence, the overall usage of system will be low

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