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Risk Management

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

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Risk Management

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  1. Risk Management Entrepreneurship/Marketing

  2. 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?

  3. 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?

  4. 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

  5. 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

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