What is meant by business risk? Explain the features of it.
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Answer:
Business risks refers to the possibility of inadequate profits or even losses due to uncertainties or unexpected events.
Eg- change in taste and fashion of customers, increase in competition, change in government policies etc. ... Risk can be minimised (through insurance) but cannot be eliminated.
Explanation:
The term business risk refers to the possibility of inadequate profits or even losses due to uncertainties e.g., changes in tastes, preferences of consumers, strikes, increased competition, change in government policy, obsolescence etc.
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