M2 Risk Management

Question 1

What is a business risk?

Answer 1

The risk that an entity’s business objectives will not be attained as a result of internal and external factors, pressures and forces brought to bear on the entity

Question 2

How do you respond to a question asking you to identify the risks?

Answer 2

1. Identify what a risk is, that is specific to their position?
2. Motivate why it is a risk to them
3. How can they mitigate it

Question 3

What type of knowledge base do you need to answer these questions?

Answer 3

You need to have a wide variety of general knowledge about businesses and what the risks are