as a owner of a business unit what risk you may face in running it
Answers
Answer:
As an owner of a business unit, there are number of risks which are faced by the business unit terms of technological risk, production risk, operational risk, financial risk, economical factors risk, human resources risk and so many more.
Explanation:
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Answer:
As an owner of a business unit, there are number of risks which are faced by the business unit terms of technological risk, production risk, operational risk, financial risk, economical factors risk, human resources risk and so many more.
The risks are unlimited. Likewise the profits too!
Potential risks:
1. Losing to competition - if fails to plan strategically based on the market standards and competition
2. Improper staffing - May completely ruin the business if you have inefficient staff as compared to your competition
3.Choosing the wrong location - if the business unit is located in a wrong place, where customer footprint ratio is less, chances are there the business will go down
Alternatively, if things are planned properly with accurate demographic location, effective staffing, quality product inventory, friendly ambience. Trust me my friend, unlimited earning potential. Focus on customer satisfaction and business will pour in.