Practice Risk Management (2.5.3) - Entrepreneurship

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9 questions

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3 cards from this section. Quick, good the night before a test.
Exercise
6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What is risk management?
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Think about what risks entrepreneurs face.
Question 2.
Name one type of risk entrepreneurs deal with.
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Consider what might threaten a business.
3Question 3.
What does risk management involve?
- A. Identifying risks only
- B. Analyzing risks and developing strategies
- C. Ignoring risks entirely
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Think about the full process of dealing with risks.
4Question 4.
True or False: Market conditions do not influence risk management.
- True
- False
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Consider how changes in the market can introduce new risks.
Question 5.
A food truck business faces multiple risks related to location, weather, and health regulations. Create a risk matrix categorizing these risks based on their likelihood and impact.
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Use a table format to categorize each risk.
Question 6.
An entrepreneur is considering expanding their online retail business. List potential risks they might encounter and suggest mitigation strategies for each.
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Consider both internal and external factors affecting the business.

5 more questions in this section. Enroll free to practise them all.