The 'Treat' risk control strategy, also known as risk mitigation or reduction, involves implementing specific actions and controls to reduce the likelihood of a risk occurring or to minimise its potential impact on the organisation. The question's description of developing actions to "minimise the impact" is the core definition of treating a risk. This proactive approach aims to lessen the severity of the consequences should the risk event materialise, aligning perfectly with the 'Treat' response.

A. tolerate: This strategy involves accepting the risk and its potential consequences without taking any action. It is a passive approach, contrary to the active development of actions described.

C. transfer: This involves shifting the financial consequences of a risk to a third party, such as through insurance, but it does not minimise the operational impact of the event itself.

D. terminate: This strategy, also known as risk avoidance, involves eliminating the risk entirely by ceasing the activity that generates it, rather than managing its potential impact.

1. CIPS (2018). Managing Supply Chain Risk (L5M2). Stamford

UK: Chartered Institute of Procurement & Supply. Chapter 4: Risk Mitigation and Management

Section on 'The 4Ts model'

pp. 89-91. (This section explicitly defines 'Treat' as taking action to reduce the probability and/or impact of a risk).

2. ISO 31000:2018. Risk management — Guidelines. International Organization for Standardization. Section 6.5.2

"Selection of risk treatment options

" describes options for modifying the risk

which aligns with the 'Treat' concept of implementing controls to change the consequences (impact).

3. Waters

D. (2011). Supply Chain Risk Management: Vulnerability and Resilience in Logistics. London: Kogan Page. Chapter 7

"Responding to risk

" details risk reduction (treatment) as actions taken to lower the probability or consequences of adverse events.