{ Risk Management Entrepreneurship/Marketing. Managing risk that may affect your business or your...
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Transcript of { Risk Management Entrepreneurship/Marketing. Managing risk that may affect your business or your...
{Risk Management
Entrepreneurship/Marketing
Managing risk that may affect your business or your lifestyle.
Types of Risks Crimes
Robbery, employee theft, and shoplifting Stolen Credit Cards Bad checks Computer Crime
Natural Disasters Hurricanes, Tornados, Floods, Fires, Earthquakes
Accidents and Injuries Can be negligence on behalf of the business or a
shear accident.
What is risk management?
Avoiding the risk Reducing the risk
Designing areas with risk reduction in mind
Educating employees on how best to reduce risk
Checking your equipment responsibly Test equipment and products under
extreme conditions so you are sure they will operate safely
Testing cars
How do we manage risk?
Transferring risk to another person or company
Property Insurance Casualty Insurance Life Insurance Worker’s Compensation
Risk Retention Taking the risk yourself
Company cannot get insurance Company insures itself To do this company must be large and have huge
capital in the bank to afford this type of insurance.
Managing risk con’t
Business interruption insurance Liability/Casualty insurance Errors and omissions insurance Life insurance Worker’s Compensation Product liability insurance Property insurance Fidelity Bonds Performance bonds
Assignment on RiskDefinitions-define and give an example of a senario when this type of insurance can be used-turn in