1. Define risk management and explain its importance in a small business. 2. Describe three types of risks commonly faced by entrepreneurs. 3. Explain the purpose of a risk register. 4. List and briefly describe four risk response strategies. (5 marks) (6 marks) (4 marks) (8 marks) 5. Explain how social media can pose a risk to small businesses. (5 marks) 6. Identify and describe any four hazard-based risks. (8 marks) 7. Mention four early warning indicators that a business may be at risk. (4 marks)
1. Define risk management and explain its importance in a small business. 2. Describe three types of risks commonly faced by entrepreneurs. 3. Explain the purpose of a risk register. 4. List and briefly describe four risk response strategies. (5 marks) (6 marks) (4 marks) (8 marks) 5. Explain how social media can pose a risk to small businesses. (5 marks) 6. Identify and describe any four hazard-based risks. (8 marks) 7. Mention four early warning indicators that a business may be at risk. (4 marks)
Chapter18: Personal Selling And Sales Promotion
Section18.2: Salesforce.com Sold On Stakeholder Satisfaction
Problem 1C
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Question
Transcribed Image Text:1. Define risk management and explain its importance in a small business.
2. Describe three types of risks commonly faced by entrepreneurs.
3. Explain the purpose of a risk register.
4. List and briefly describe four risk response strategies.
(5 marks)
(6 marks)
(4 marks)
(8 marks)
5. Explain how social media can pose a risk to small businesses.
(5 marks)
6. Identify and describe any four hazard-based risks.
(8 marks)
7. Mention four early warning indicators that a business may be at risk.
(4 marks)
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