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3 cards from this section. Quick, good the night before a test.
What does 'risk' mean in the context of business?
Think about what could happen if things don’t go as planned.
List two types of business risks.
Consider what might threaten a company's finances or customer base.
What does risk in business primarily refer to?
Think about the negative outcomes that could occur.
Is SWOT analysis used for assessing risks?
Consider what SWOT stands for.
A tech startup is facing financial risk due to inconsistent cash flow. Using a SWOT analysis, what steps can the company take to mitigate this risk?
Think about how identifying internal and external factors might guide their decisions.
Discuss the potential consequences for a business that does not implement insurance as part of its risk management strategy.
Consider real-life examples of businesses that have suffered without insurance.
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