Risk management in your business!

When it comes to business, investment any venture that involves man and money etc. Their is always a risk that is attached to it. But ability to manage those risks amicably and clinically, gives us an edge to be successful in whatever initiative we crave to make profit end.

Do you apply risk management in your business initiative??

 

[Eodine]

There is an addage that says that with risks comes reward so it is important to take calculative risks when it comes to business because the business might have activities that require planning.

 

[Dowenship]

One of the richest man once said that some of them loosed millions to become billionnaire while some loose thousands to become the millionaires today. Definitely they took risk which they loses money in the process.so I see no reason you cant tske risk

 

[Onachukwu]

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Most entrepreneurs are risk-takers by nature. Many entrepreneurs risk all that they have when they decide to launch a business. For entrepreneurs, there is no secure monthly income, and spending time with family can be a challenge. Here are some of the risks that every entrepreneur and investor should evaluate and minimize before starting a business.

 

[unhappy triad]

Yes i think so because its one of the most important pre-equisite for attracting customers, building structures outclass other building due to the fact that the way some house structure are bring built allow people in the urban area to have interest in that process it will in turn outclass other building that are not built well

 

[Abbas007]

Risk is a big imported factor in business. Risk is a tool in the business line that acts like a defense force in the business man because unless you take a step, you can't learn anything at home, you have to lose something to gain something always remember that.

 

[Bart Simpson]

If the goods you sell are very valuable and help your company make money, then this is a sales source that might save your company some $20 a month. When it comes to a supermarket or health food store, this phrase tells the user that not only do they need to buy fruits and vegetables, but it also wants them to purchase household items at the store as well such as cleaning supplies. And it is very good because almost everyone has to buy them on a regular basis. And $10 can be very easily used to buy it.

 

[Asad Ali]

Risks control is an crucial technique as it empowers a commercial enterprise with the important equipment in order that it could thoroughly pick out and cope with capacity risks. Once a danger’s been identified, it's miles then clean to mitigate it. In addition, danger control offers a commercial enterprise with a foundation upon which it could adopt sound decision-making.

 

[eLdavis]

in business there are always risk. No one knows what would happen, so its best to apply risk management. Most especially if its a large scale business

 

[Joseph555]

Mechanism for risk management must brt provided Because it will always comes, you are not planning to succeed if you omit probability of encountering risk and providing it's solution ahead of time.

 

[Ibrahim]

As for me you can't do without facing risk even in life so when there's risk in life tell me how there won't be risk in business we doing and moreover the life we living is just like business we going to be doing because there's no different between the two

 

[Oluwole]

Risk in my business is bad water in fish farming business if their no water no fish, in fish farming water is very important, in fact is the first thing to consider before any other things at all. The next thing is capital

 

[shakky2]

risk management is inevitable in a business whether small scale or large scale business,risk is one of those challenges that build a business and it helps in becoming stronger when making a decision regarding some essential factors in the business

 

[Godleads1]

In managing risks, there must be a parameter that helps the business owner to forecast or foresee potential dangers. The risk management is how you handle those risks and make them pass without influencing the business.

 

[shakky2]

risk management is part of a business but the way of maintaining and avoiding such risk depends on the company and the vast knowledge they possess in handling such. the efficiency of a business also has to do with how they cope with handling risks

 

[mayreeh38]

Well, if we don't take the risks, the risks will always come, so be prepared. While there are different risks to different investments and businesses, it is advisable to always have a plan ahead. A back up plan will aid one from completely going bankrupt or otherwise.

 

[KvngMurphy]

The term Risk management as the name implies focuses on identifying what could go wrong, evaluating which risks should be dealt with and implementing strategies to deal with those risks. Businesses that have identified the risks will be better prepared and have a more cost-effective way of dealing with them.

 

[Bookwormlux]

When it comes to business, investment any venture that involves man and money etc. Their is always a risk that is attached to it. But ability to manage those risks amicably and clinically, gives us an edge to be successful in whatever initiative we crave to make profit end.

Do you apply risk management in your business initiative??

Risk management is something we all have to learn. Personally, I only take some risks that would not be too much for me to bear. This helps me to not involve in something that would lead to lose of every resources at my disposal.

 

[Bethel Victor]

In any business business risk is important because it give you the opportunity to take a leap that might take your business to a greater height, risk could be taking a loan, declining some offer and so many more, but proper risk management is very important.

 

[Clara]

Business risk management is a subset of risk management used to evaluate the business risk involved if any changes occur in the business operations, systems and process. It identifies, prioritizes and addresses the risk to minimize penalties from unexpected incidents, by keeping them on track.

 

[Husnainali]

Here are seven key pointers in moving your business forward.
Economic risk As markets fluctuate, so does the economy. ...
Risk of compliance. ...
Security and risk of fraud. ...
Financial risk ...
Reputation risk ...
Operational risk ...
Competition (or comfort)