1. Business Risk Marketing Co-op

2.  Communication  What is communication?  Types of communication  Online  Telephone  Nonverbal Previously

3.  Identify the 3 types of business risk  Explain how risk affects business decisions  Identify ways that businesses can protect themselves from risk SWBAT

4.  Risk if the uncertainty of an outcome  Three types of risk for businesses:  Economic  Natural  Human Business Risk

5.  The risk that an endeavor will be economically unsustainable  Can include:  Changes in demographics  Business cycle  Competition  Government regulations Economic Risks

6.  Probability of harm to human health, property or the environment posed by any aspect of the physical world other than human activity  Can include:  Perishability  Weather  Fires Natural Risks

7.  Risks related to the actions of those inside and outside the company  Can include:  Employee theft or incompetence  Accidents  Shoplifting  Fraud  Computer-related crime Human Risks

8.  Economic:  Loss of potential consumers  Product/Service popularity may end quicker than expected  Competition may increase and you could lose customers  Increased regulations could prevent certain business practices or production  Natural:  Loss of goods = loss of profits  Damage of goods/resources  Human:  Loss of goods/resources  Injuries  Lawsuits  Loss of information Impact on Profits

9.  Risk Management  The identification, assessment, and prioritization of risks followed by minimizing and controlling the probability of unfortunate events How Can Businesses Protect Themselves?

10.  Against Economic Risks:  Conducting constant research to stay ahead of the curve  Staying up to date with regulations  Against Natural Risks:  Can be more difficult that others  Implementing safety measures (sprinklers, fire extinguishers)  Against Human Risks:  Conducting background searches on employees  Implementing security measures (cameras, internet security)  Providing safety training for employees How Can Businesses Protect Themselves?

11.  What are the types of business risks?  What are examples of each?  How can companies prevent each type of risk? Review

12.  Find a company that has had to deal with at least of the types of risk we talked about today  On a PowerPoint, give the following information: Business Risk Assignment What is the company? (Name, What do they do) What happened to them? (Disaster, Fraud, etc.) What was the result? (loss of money, etc.) How did they handle the situation? Do you think they did the right thing? How would you have done it differently? What is the company? (Name, What do they do) What happened to them? (Disaster, Fraud, etc.) What was the result? (loss of money, etc.) How did they handle the situation? Do you think they did the right thing? How would you have done it differently?