Risk and Risk Management
- XU MA
- Apr 27, 2018
- 1 min read
What is Risk
Risk is the potential of gaining or losing something of value. In business, the risk is refer to the money that company will gain or lose for the investment. Business risk is influenced by numerous factors, including sales volume, per-unit price, input costs, competition, the overall economic climate and government regulations.
Risk Management
Risk management is a method that the higher managment level to make decision and accetp that how much rish they can take. It is important for set up the risk management in morden business to prevent the business goes to bankrupt.
Follow these steps are to identify, analyse and evaluate your business risks:
Identify – note the risks your business may face.
Analyse – work out the level of risk and which ones are most urgent.
Evaluate – compare the risk against set risk criteria to decide what action to take.
Reference
https://www.investopedia.com/terms/b/businessrisk.asp#ixzz5DsX6LUJy
https://www.business.gov.au/info/run/risk-management
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