The importance of classifying risk relates to the duration of its impact on business continuity: short, medium, or long.  Review the FIRM and PESTLE models of Risk Classification Systems in Chapter 11.

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The importance of classifying risk relates to the duration of its impact on business continuity: short, medium, or long.  Review the FIRM and PESTLE models of Risk Classification Systems in Chapter 11.  How do you see each one contributing to organizational Risk Management?