Types Of Risk As Small Business Manager - 800 Words

Types of Risk Introduction There are all types of risks involved if one is small business manager or a manager of a larger corporation. The responsibilities on a day-to-day basis can be vital towards the success of the organization. The company facilities can be associated with working capital, production, and sales. The manager would need to reflect a common awareness of the potential risks that can be involved. Although, there can always be a risk involved in an organization, the manager would and should have the capability to identify the type of risks that the company can surface. In this paper, one will provide a further explanation on the various risks and along with presenting a way for financial managers on a moderate approach towards these risks. Property Risks Property risks defined under a business can comprise of various things that can cause damage to a property of the business. For example, a business can be damaged due to a flood. According to Pielke, Downton, Miller, (2002), â€Å"Flood damage has increased in the United States, despite local efforts and federal encouragement to mitigate flood hazards and regulate development in flood-prone areas† (p. 1). Although flood insurance is not federally required, in some cases, individuals can be financially vulnerable to floods. If and when flood insurance is available, disaster assistance is usually a loan that one must repay with interest. In essence, there is not a sure way to avoid things fromShow MoreRelatedManagement And Ownership Of The Midnight Food Chain Owner1526 Words   |  7 Pagesfast food restaurant. After serving the company for 3 years, he was promoted to general manager. He further acquired a specialized degree in Culinary and served a five st ar hotel’s food related operations. Therefore, it is believed that XYZ is the right person for the right job at the right time. 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