Which risk management principle is best demonstrated by applying the risk management process as early as possible in order to provide the greatest opportunity to make well informed risk decisions and implement effective risk controls?

By planning ahead of time and anticipating the risks involved, a manager can make the best decisions possible for the organization. This allows them to understand what could happen in the future and find strategies that will mitigate these risks.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.