Essay about Risks And Risks Of Managing A Business

1281 Words Apr 27th, 2016 null Page
There are many different things to consider when running managing a business. There are risks that come with the business despite the type of business. These risks vary in types based on a number of different factors. Not managing these risks could run the possibility of business failure. There are almost an endless amount of possible risks. With this abundance of risks, it is sometimes difficult to manage them.
All of the risks that a business could possibly run into fall under two categories that are social risks and financial risks. Managing these two types of risks are very crucial in the survival of a business. If a business does not manage these risks, they will only pile up on each other never going away. No business wants this because as the risks accumulate they become harder to manage properly or without other risks occurring. Many for profit institutions have methods to manage risks and costs (Allen 1). Social risk are the first type of risk that can have an effect on a business. Social risks are all of the risks that come with the person that a business hires. Social risks are not dependent on the position the person is. A CEO of a company can still pose a social risk. There are many different types of social risks. Every social risk, if not managed properly, can cause great harm to a business. There are many social risks on a business that include : human rights, corruption, security, land, environment, public health, working conditions, and…

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