Hello and welcome to my blog today.
Every business has risk in it one way or the other. Briefly I will like to state some of the key risk involved in undertaking a business.
**1. Strategic Risk. **
It has to do with the organization planning to achieve set objectives and goals. Making plans, following processes in order to meet the organization's goals.
2. Reputation Risk.
It has to do with protecting your image. What you give out as a product to the public will determine how much people will patronize you. These are risk that when they occur, they tarnish the image if the company.
3. Compliance Risk.
It has to do with laws and regulations. As an organization, there are laws governing your operations and when you fail any of this law or fail to comply to those set laws and regulations, you're exposed to compliance risk because the moment you pay fines or penalties as a r suly of failing a law, you will certainly incur a financial loss.
4. Political Risk.
When managing/eatabkishinh a business, you should not impedenjoy that of the political structure/affair else you're bound to fail.
5. Financial Risk.
It involves what could likely happen if the inflow/outflow of finances are cut short.
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