Unit 10 Business Finance

The chance or probability of harm or loss that could result in business failure

• Risk

• Risk Management

• Speculative Risk

• Uncontrollable Risks

Has a potential financial impack

• Controllable Risk

• Economic Risk

• Human Risk

• Liability

There is no opprunity for financial gain but only losss

• Human Risks

• Liability

• Natural Risk

• Pure Risk

The possibility of either funancial loss or gain

• Risk

• Risk Management

• Speculative Risk

• Uncontollable Risk

Arise from naturla events or a part of nature

• Natural Risk

• Human Risks

• Controllable Risks

• Uncontrollable Risks

Result from the action of individuals, group, or organization

• Natural Risks

• Human Risks

• Controllable Risks

• Uncontrollable Risks

Can be reduced or avoided by thoughtful actions

• Natural Risks

• Human Risks

• Controllable Risks

• Uncontrollable Risks

Cannot be influenced by human actions

• Natural Risks

• Human Risks

• Controllable Risks

• Uncontrollable Risks

The process of sysematically identifying potential risks and making plans to reduce the impact of the risk of the individuals and companies

• risk

• Risk Management

• Speculative Risk

• Uncontrollable Risks

An individual or business is responsible to others for negligence, negligence can result from an action taken or from a failure to act

• Human Risks

• Liablility

• Natural Risk

• Pure Risk