A company wants to grow and extend its business for this purpose it needpoints to purchase land building machines acceptor due to higher cost of these assets company wants to reduce risk related to it identify the available in difference and explain how can they overcome
Answers
Answer:
BUSINESS BUSINESS ESSENTIALS
Identifying and Managing Business Risks
By MARC DAVIS
Updated Aug 2, 2019
TABLE OF CONTENTS
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Identifying Risks
Physical Risks
Location Risks
Human Risks
Technology Risks
Strategic Risks
Making a Risk Assessment
Insuring Against Risks
Risk Prevention
The Bottom Line
Running a business comes with many types of risk. Some of these potential hazards can destroy a business, while others can cause serious damage that is costly and time-consuming to repair. Despite the risks implicit in doing business, CEOs and risk management officers can anticipate and prepare regardless of the size of their business.
Identifying Risks
If and when a risk becomes a reality, a well-prepared business can minimize the impact on earnings, lost time and productivity, and negative impact on customers. For startups and established businesses, the ability to identify risks is a key part of strategic business planning. Risks are identified through a number of ways. Strategies to identify these risks rely on comprehensively analyzing a company's specific business activities. Most organizations face preventable, strategic and external threats that can be managed through acceptance, transfer, reduction or elimination.
A risk management consultant can help a business determine which risks should be covered by insurance.
Answer:
Hindrance of risk,they can be overcome by taking insurance