Which term best describes actions taken to prevent loss, such as installing security systems?

The term that best describes actions taken to prevent loss, such as installing security systems, is Loss Prevention. This term specifically refers to strategies and measures designed to reduce the likelihood of a loss occurring. For instance, implementing security systems directly aims to deter theft or damage, thereby reducing the chances of financial loss from such events.

Risk Reduction is closely related but typically implies measures that lessen the impact of a loss rather than prevent it entirely. This means that while risk reduction may involve actions that contribute to overall safety, it does not necessarily focus solely on preventing the loss from occurring in the first place.

Risk Avoidance involves completely eliminating the risk, which is often not practical or feasible for many scenarios. It is more about avoiding activities or exposures that could potentially lead to loss rather than implementing safeguards.

Risk Transfer refers to shifting the burden of loss to another party, such as through purchasing insurance. This involves an external mechanism to handle potential losses rather than taking preventive steps oneself.

In summary, Loss Prevention is the most accurate term for actions like installing security systems aimed at preventing losses.