Financial management.docx - Running head RISK MANAGEMENT 1...

This preview shows page 1 - 3 out of 5 pages.

Running head: RISK MANAGEMENT 1 Risk Management Name Institution
Image of page 1

Subscribe to view the full document.

RISK MANAGEMENT 2 Business Risks, Risk Management and How to mitigate Business Risks The primary focus of every kind of business is to ensure that they make profits and keep their customers satisfied at all times. However, these focuses are inhibited by the existence of various risks that face all types of businesses. Firstly, companies or businesses have property that is at risk of damage or even theft. This calls for extensive care when it comes to the property management. Secondly, there are very many competitors since most business are not monopolies. This means that there are market risks facing the businesses which should be controlled to avoid losses. The need to ensure customer satisfaction is another very vital aspect in the success of businesses. The customer needs are changing from time to time which means that businesses must continuously focus on ensuring the customers’ needs are satisfied to ensure that they do not lose them as suggested by Kaplan & Mikes (2012). In addition, the employees of all businesses play a critical role in defining its image. This means that it is important to ensure that employee needs are addressed to avoid any risks that may come as a result of employee dissatisfaction. It is because of these risks that the businesses need to properly handle their risks to avoid losses. Many businesses do not understand the need to have risk management departments which mainly results to their losses. This is an important
Image of page 2
Image of page 3

{[ snackBarMessage ]}

Get FREE access by uploading your study materials

Upload your study materials now and get free access to over 25 million documents.

Upload now for FREE access Or pay now for instant access
Christopher Reinemann
"Before using Course Hero my grade was at 78%. By the end of the semester my grade was at 90%. I could not have done it without all the class material I found."
— Christopher R., University of Rhode Island '15, Course Hero Intern

Ask a question for free

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern