Meet the following business man and note three problem, risk which nay arise in business
a) taxi or auto rickshaw driver
b) farmer
c) owner of a ratail grocery shop
d) dairy farming
Answers
Farmer- no proper msp, no fertilizer,no financial support
retailers- less profit
A rickshaw driver:
Problems:
1) If the driver gets a customer who is problematic.
2) If the customer demands for meter-reading and he doesn’t cooperate
3) If he crashes the auto on some other vehicle.
Risk factors:
a) Taking loan for the rickshaw. If he doesn’t pay on time, it will be confiscated.
b) If he crashes the auto, then, his licence could get cancelled. c
c) Have taken the licence without proper driving experience.
Owner of retail grocery shop:
Problems are:
1) You won’t get enough of customers.
2) Customers who take groceries on loan may not give the money on time.
3) The products purchased can become spoilt or the date of manufacture can get expired.
Risk factors are:
a) Investing a lot of money for buying the groceries.
b) If the shop has competitors’ or not located in the prime area.
c) If the demand for the products is not properly analysed
Dairy farming:
The problems involved in dairy farming are:
a) You may not get quality milk because of the low-quality fodder.
b) You will need proper water facility, if that is not there then it becomes a problem.
c) If the milk is produced in excess, that will become a wastage.
Risk Factors are:
1) Lots of money will be invested.
2) The amount paid for the milk will be less.
3) Getting good water supply is also a risk factor.