ard 2. Operational 3.Strateg
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explain the following three types of risks in business:
1. Hazard
2. Operational
3.Strategic
Step by step
Solved in 2 steps
- What are the three major types of operational risk? What is their roles? and which one you think may be the most difficult to manage and why?Having identified and evaluated risk, the next step is to decide how to respond to the risk.Describe risk control and clearly distinguish between the three possible responses to business risks?How can these four types of risk: financial, operational, market and hazard manifest itself in a business and how do you propose to deal with that.
- Below are four categories of risk and ways that a company is currently handling the risks. Which risk handling options are being used? More than one answer may apply. a. A company is handling its high R&D financial risk by taking on partners and hiring subcontractors. The partners/subcontractors are expected to invest some of their own funds in the R&D effort in exchange for sole-source, long-term production contracts if the product undergoes successful commercialization. b. A company has decided to handle its marketing risks by offering a family of products to its customer base. Different features exist for each product offered. c. A company has product lines with a life expectancy of ten years or more. The company is handling its technical risks by performing extensive testing on new components and performing parallel technical development efforts for downstream enhancements. d. A company has large manufacturing costs for its high-tech products. The company will not…The primary risk facing companies can be grouped into four categories, namely; Hazard Risk Strategic Risk Financial Risk Operational Risk In a tabular form, how would you categorize the risk factors below based on the above risks? Economic Distress Mismanagement Technological Causes Working Capital Problems Fraudulent Management Lack of board effectiveness Boards' risk blindness Poor leadership on ethos and culture Defective communication Excessive complexity Inappropriate incentives Information "glass ceiling" Managerial inefficiency and ineffectiveness Over expansion Ineffective sales force High production costs Poor financial management Risk assessment strategy Inappropriate commercial policy Absence of manpower training and development policy Capital inadequacy Socio cultural factors Income instability Public policyIn this paper, we will delve into the most pressing risks and discuss how to best mitigate them. When developing a company's long-term plan, what part does risk management play?
- It would be much appreciated if you could offer a summary of the five distinct methods that may be used for risk management, along with a condensed description of each strategy.What are the three most important forms of operating risk? What positions do they play? And how you think would be the hardest to handle and why?In this section, we will discuss in depth the most essential areas of concern about risk management. To what extent does the management of risks factor into the development of a company's long-term strategy?
- Describe the most important problems in risk management. How crucial is risk management to the process of creating a company's long-term goals?For risk management, discuss important areas of concern. What role does risk management play in the formulation of company strategy?Provide a brief definition or explanation of each of the following terms within the context offinancial business management, together with a comprehensive example. 1-The risk-return principle. 2-The current ratio. 3-Net profit margin.