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Types Of Risk As Small Business Manager

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Types of Risk
Introduction
There are all types of risks involved if one is small business manager or a manager of a larger corporation. The responsibilities on a day-to-day basis can be vital towards the success of the organization. The company facilities can be associated with working capital, production, and sales. The manager would need to reflect a common awareness of the potential risks that can be involved. Although, there can always be a risk involved in an organization, the manager would and should have the capability to identify the type of risks that the company can surface. In this paper, one will provide a further explanation on the various risks and along with presenting a way for financial managers on a moderate approach towards these risks.

Property Risks Property risks defined under a business can comprise of various things that can cause damage to a property of the business. For example, a business can be damaged due to a flood. According to Pielke, Downton, & Miller, (2002), “Flood damage has increased in the United States, despite local efforts and federal encouragement to mitigate flood hazards and regulate development in flood-prone areas” (p. 1). Although flood insurance is not federally required, in some cases, individuals can be financially vulnerable to floods. If and when flood insurance is available, disaster assistance is usually a loan that one must repay with interest. In essence, there is not a sure way to avoid things from

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