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24 December, 17:54

List at least 3 risks your company will face, and explain how you will manage those risks

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  1. 24 December, 20:14
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    There are many risks that businesses face, including:

    Competition risk - there could be another business that draws customers away from your company. Economic risk - if the economy is doing poorly, it could increase costs or reduce sales Reputation - if someone posts a bad review online, how will that effect your sales? Legal/Compliance issues - you have to comply with industry regulations and laws, and there is great risk to you and the business if you break these rules Resources risk - if you rely on a specific material to run your business and that material isn't available you could be in trouble (ex. if the orange crop is wiped out by a hurricane, orange juice makers could be in trouble)
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