business venture

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Is a new business that is formed wth a plan and expectation that financial gain will follow this kind of business is referred to as a small business, as it typically begins with a small amount of financial resources. A business ventureeee is usually formed out of a need for a service or product that is keeping in the market.  The  following aree risks in a business venture
Stragics risk, this strategics risk it’s the risks that companystrategy become lesor eenterprenuee struggles to reach its gs effective and companyoals as a result . it could be due to technologyal chance, a powerful  new comrtitor  eentering thee market shift in customer demand, spikes in thee costs of raw material or any number of theer large scale changes.
Operational risk: reefers to an unexpected fuiler in company dayto day operation. It could be a technical failure , like a server outage , or  it could be caused by people or processes. In some cases, operational risk has more than one cause , for example on a check paying out  100, 000tsh instead of 10,000tsh.
Financial risk: - most categories of risk have a financial impact, in teerms of extral cost or lost revenue.   .
reputation risk: is thee threat to the profitability or sustainability of a business or other eentity that is caused by unfavorable public peerce ption of organization or its products or services.
Compliance risk: is exposure to legal penalties, financial forfeiture and material loss an organization  Laws ad regulation, internal policies or prescribed bees practices.
Risk ma
Business management: is the activitiees
Risk, avoiding should be the fistotion to consider when it comes to risk control. Example if you can avoid the risk of having it stolen if you don’t leave it in your aurover night. Paying clint with cheaks rather than mailing cash.
Retaining the risk, its preferable to keep your levrel of risk as it is because the cost of avoiding the the risk is more than the cost of damage or loss. Often we, weretare risk is  without even thinking about it. Example if you have 10000 tzsh in petty cash in a locked drawer in locked drwer in your office, there is always the chance someone could stealihoever the cost of a wall safe would greatly exceed the amount of money you would be protected
Transferring risk. This where by include transferring the risk to another party in a contract transferring  the risk to another party in a contract and the purchase of insurance. Example a delivery company may contractually transfer the risk of demand to packages to either the shipper or the receiver .second way this company could transfer the risk is by purchasing insurance so that if a pockage is demaged, the insurance company absorbs the coss.
Reducing loss: this is where by the company it self should make sure that they  reducing loss to the company by taking safe guard against it. Example if you own a hard ware store, its unlikely that you can eliminate the chance of theft when your store is closed for the night.
Spreding the risk: is often an in expensive way of reducing the chance of a calamity. To protect digited up computer.














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