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Risk - PowerPoint PPT Presentation


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Risk. All businesses must deal with different types of risk. Risk is…. A situation that can lead to financial loss for a business Can result in loss of revenue or inventory. Types of Risk. Economic Natural Human. Economic Risk. Nation’s economy takes a downturn

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Presentation Transcript
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Risk

All businesses must deal with different types of risk.

risk is
Risk is…

A situation that can lead to financial loss for a business

Can result in loss of revenue or inventory

types of risk
Types of Risk

Economic

Natural

Human

economic risk
Economic Risk
  • Nation’s economy takes a downturn
    • Retailers should watch customer behavior and adjust inventory and expenses to help
  • Products become obsolete
    • Retailers should be aware of trends and customer buying habits
natural risk
Natural Risk

Retailers should have insurance to protect their buildings, equipment, fixtures, and inventory.

  • Weather
    • Hurricanes
    • Floods
    • Tornadoes
    • Earthquakes
    • Fires
  • Caused by people
    • Riots
    • Civil unrest
    • Oil or chemical spills
    • Arson
    • Terrorism
    • War
human risk
Human Risk

Security

Safety

human risk security
Human Risk: Security
  • Burglary-someone breaks into the store
  • Theft
    • Internal-employee theft or employee pilferage
      • Dishonest employees
      • Taking cash or merchandise
      • Retailers can carefully interview and check references for potential employees
    • External-shoplifting by customers
      • Stealing
      • Switching price tags
human risk security1
Human Risk: Security
  • Retailers can:
    • Educate their employees with training
    • Use devices in the store
      • Mirrors
      • Two-way mirrors
      • Sensor systems
      • No blind spots
    • Use deterrents like always prosecuting shoplifters
    • Carefully check vendors
      • Match invoice with amount of goods received
human risk safety
Human Risk: Safety

Accidents involving employees or customers

human risk safety1
Human Risk: Safety
  • Retailers can
    • Provide a safe environment
    • Have safety procedures
    • Provide training
      • Proper food handling
      • Proper chemical handling
    • Maintain the store inside and out
      • Clean
      • Repaired
      • Organized
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