20 RISK Identify the risks that businesses are Research instances of businesses that have been affected by risk MANAGEMENT likely to encounter, including natural factors and analyse the way that they have responded to these risks. disasters, failure of equipment/technology, employee error, supply problems, economic factors, legal challenges, public relations and product failures. Explain that some are more certain to happen than others and that this will affect the decision as to how much a business will be willing to spend on their prevention. Study the section on risk in the annual report of one plc. Explain Explain the importance of risk how the business intends to deal with the anticipated risk factors. assessment as a tool for avoiding risks. Explain how some risks can be dealt with by preventative actions such as installing water sprinklers, backing up IT data and training employees. Explain the difference between insurable and uninsurable risks. Explain what is meant by contingency Investigate news articles online to identify recent examples of planning and crisis management. businesses crisis management.
20 RISK MANAGEMENT Identify the risks that businesses are likely to encounter, including natural disasters, failure of equipment/technology, employee error, supply problems, economic factors, legal challenges, public relations and product failures. Explain that some are more certain to happen than others and that this will affect the decision as to how much a business will be willing to spend on their prevention. Explain the importance of risk assessment as a tool for avoiding risks. Explain how some risks can be dealt with by preventative actions such as installing water sprinklers, backing up IT data and training employees. Explain the difference between insurable and uninsurable risks. Explain what is meant by contingency planning and crisis management. Research instances of businesses that have been affected by risk factors and analyse the way that they have responded to these risks. Study the section on risk in the annual report of one plc. Explain how the business intends to deal with the anticipated risk factors. Investigate news articles online to identify recent examples of businesses crisis management.
Eduqas%20Business%20Course%20Outline%20(from%20September%202015).docx