What are the top five risk in business?
top 5 risks in business:
1. obsolescence of the product being offered.
2. economic recession
3. ineconomies of scale
4. unforeseen catastrophic event
5. information system breakdown (virus attack, cyberterrorism, etc.)
The 5 risks that any business faces are:
political risks - war, nationalization, eminent domain
financial risks - Credit, hedging, currency valuation.
technology risks - obsolesce
market risks - can't get product to market, recalls
liability risks - getting sued, building burns down
employees, inventory levels, cash, insurance, planning
Though risk varies with nature of Business, however standard risks can be : -
1. Start-up Risk
2. Product Risk
3. Technology Risk
4. Competition Risk
5. Regulatory Risk.......etc
Answers:
I would say that the biggest risk comes from within the business i.e. employees. You may have to trust them with precious bank details, which they could use to swindle you out of thousands. So when you're busy running around and carrying out your business, be especially careful of those you employ.