There are 4 types of these risks. Political . Associat with changes in the political environment, legislation, tax rates, international relations. For example, a change of government, the introduction of new laws can greatly affect the company’s activities Natural. These are risks associat with natural disasters. For example, frosts in May can affect agricultural enterprises, and storms in the summer can affect companies in the tourism sector and the hotel business.
Associat with fluctuations in exchange rates
Inflation, economic downturns, and other factors that affect philippines phone number library the financial condition of a company. For example, an unexpect devaluation of the national currency can make importing goods more expensive . Social Business can also be affect by changes in society. For example, private clinics may lose some clients because the government is working to improve public hospitals.
For this reason, some people stop giving
Preference to private clinics. Risk management methods Prevention The risk manager’s job in this case is to prevent a threat, that is, to prevent some bad event from happening. To do this, he constantly collects information about external and internal factors that can affect the company’s work. Then he makes decisions that will help neutralize it is essential to realize that professional the negative consequences. Let’s say a risk manager analyzes the overall market situation and sees that a company will have a new competitor in a month.
The risk manager’s primary task
To think through a strategy that will help minimize the risk of losing customers. Softening When something has already happen. For example, during Covid, many ws data companies could not maintain their staff and fir specialists. Some entrepreneurs transferr their employees to remote work, thanks to this decision they manag to mitigate the consequences of such an unforeseen threat.
Transfer The risk can often be delegat to someone else
Such as an insurance company. If you insure your building, if a fire or flood occurs, you will receive compensation to cover the losses. Elimination This method is aim at eliminating the consequences of what happen. It is advisable to develop an action plan for crisis situations in advance in order to deal with the problems that have arisen more quickly. Let’s say that when a company has already experienc a leak of customer information, it nes to respond quickly: determine what data was stolen; identify and correct the problem; apologize to customers and reassure them; restore reputation.