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TOPIC: RISK (TYPES OF RISK (OPERATIONAL (refers to an unexpected failure…
TOPIC: RISK
TYPES OF RISK
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STRATEGIC (when your company’s strategy becomes less effective and your company struggles to reach its goals as a result)**
Changing social and political pressures, competition, changing customer demands, availability of new technology
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FINANCIAL (refers specifically to the money flowing in and out of your business, and the possibility of a sudden financial loss)
Lack of liquidity, non-availability of reasonably priced credit
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RISK MANAGEMENT
DEFINITION: the process of identifying, assessing and controlling threats to an organization's capital and earnings.
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