Question

Choose a locally operated trading or business unit. Find out that kind of risk it faces in business and they way it deal with them

Answer 1

The different risks and way to deal them are as follows:

1.Risk of theft, loss or spoilage- It can be removed through insurance.

2.Risk of finance- It can be removed by financing through the banks.

3.Risk of knowledge- It can be removed by educating the customers through advertisements.

4.Risk of time- It can be overcome through warehousing.

5.Risk of place- It can be transferred from the place of production to the place of consumption.

6.Risk of person- It maintains a link between the producers and the consumers.