Manage the risks associated with operating your business.

Module Outline

Managing Risk is one course in a five-part series on Financial Management for Small Business. The series is designed to help business owners increase their profits by improving their financial management skills. As a business owner, you face a variety of risks daily. You can reduce or share some of these with insurance companies, but others you have to bear in their entirety. These are the ones that you must evaluate carefully in light of your own risk threshold. Although it is impossible to eliminate risk entirely, there are strategies for assessing and managing risk that will help you keep your business risk within limits that are acceptable to you. In this course we will talk about how you can assess the risk associated with a variety of business decisions. We will review different types of business risk, and suggest strategies for managing them.

Learning Objectives

On completion of this 2 hour module you should be able to:

Summarize the three-step Risk Management Strategy.
Briefly explain the relationship between cost structure and risk.
Identify two methods of analyzing the risk associated with borrowing.
Identify three categories of risk associated with international trade.
Use the Internet to find out about government-sponsored export insurance.
Identify types of business risk that can be managed by purchasing insurance
Skill Set

FINANCIAL
SMALL AND MEDIUM-SIZED BUSINESS MANAGEMENT
PLANNING