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Risk Management

Chapter 14. Slide 2. LESSON 14-1 Overview of Risk Management. GoalsIdentify the types of risks facing businesses.Describe ways that businesses can deal with risks.. Chapter 14. Slide 3. Key Terms. riskeconomic riskpersonal riskproperty risk. liability riskpure riskcontrollable riskinsurance

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Risk Management

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    1. Risk Management 14-1 Overview of Risk Management 14-2 Insurable Risks 14-3 Uninsurable Risks

    2. Chapter 14 Slide 2 LESSON 14-1 Overview of Risk Management Goals Identify the types of risks facing businesses. Describe ways that businesses can deal with risks.

    3. Chapter 14 Slide 3 Key Terms risk economic risk personal risk property risk liability risk pure risk controllable risk insurance

    4. Chapter 14 Slide 4 IDENTIFYING RISKS Types of risks Economic and non-economic risks Pure and speculative risks Controllable and uncontrollable risks Insurable and uninsurable risks

    5. Chapter 14 Slide 5 >> C H E C K P O I N T What is a risk?

    6. Chapter 14 Slide 6 DEALING WITH RISKS Avoid the risk Transfer the risk Insure the risk Assume the risk

    7. Chapter 14 Slide 7 POSSIBLE WAYS TO DEAL WITH RISK

    8. Chapter 14 Slide 8 >> C H E C K P O I N T Identify four ways that business can deal with risks.

    9. Chapter 14 Slide 9 LESSON 14-2 Insurable Risks Goals Recognize important insurance concepts. Describe several types of business insurance.

    10. Chapter 14 Slide 10 Key Terms insurers insured policyholder insurance policy premium claim

    11. Chapter 14 Slide 11 PURCHASING INSURANCE Insurance basics Insurance companies Insured losses

    12. Chapter 14 Slide 12 >> C H E C K P O I N T What information should be considered when selecting an insurance company?

    13. Chapter 14 Slide 13 BUSINESS INSURANCE Insuring personnel Health insurance Disability insurance Life insurance Insuring property Insuring business operations

    14. Chapter 14 Slide 14 >> C H E C K P O I N T What are the three major areas that can be covered by business insurance?

    15. Chapter 14 Slide 15 LESSON 14-3 Uninsurable Risks Goals Describe why some business risks are uninsurable. List the strategies a company can use to reduce the risks of doing business internationally.

    16. Chapter 14 Slide 16 Key Terms property rights counterfeiting

    17. Chapter 14 Slide 17 IDENTIFYING RISKS Types of uninsurable risks Economic conditions Consumer demand Competitors’ actions Technology changes Local factors Business operations

    18. Chapter 14 Slide 18 MANAGING RISKS Inform everyone in the business of the types of risks that are particularly important to their part of the operations Implement measures to gather information and spot possible problems Inspect facilities and equipment Be active in local communities Build relationships with government officials

    19. Chapter 14 Slide 19 >> C H E C K P O I N T What are several things businesses can do to manage risks?

    20. Chapter 14 Slide 20 RISKS IN INTERNATIONAL BUSINESS Strategies for reducing risk International property rights

    21. Chapter 14 Slide 21 >> C H E C K P O I N T Why do U.S. companies have difficulty enforcing intellectual property rights in some international markets?

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