4.5.3 - How to Manage Risk
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Practice Questions
Test your understanding with targeted questions
What does 'risk' mean in the context of business?
💡 Hint: Think about what could happen if things don’t go as planned.
List two types of business risks.
💡 Hint: Consider what might threaten a company's finances or customer base.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What does risk in business primarily refer to?
💡 Hint: Think about the negative outcomes that could occur.
Is SWOT analysis used for assessing risks?
💡 Hint: Consider what SWOT stands for.
2 more questions available
Challenge Problems
Push your limits with advanced challenges
A tech startup is facing financial risk due to inconsistent cash flow. Using a SWOT analysis, what steps can the company take to mitigate this risk?
💡 Hint: Think about how identifying internal and external factors might guide their decisions.
Discuss the potential consequences for a business that does not implement insurance as part of its risk management strategy.
💡 Hint: Consider real-life examples of businesses that have suffered without insurance.
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