Instructions Write at least a three-paragraph document addressing the following points: Describe the 2 different types of risks and provide 2 small business examples for each. Compare the 4 options to manage risks. Contrast 3 common types of insurance in terms of a business's risks, including a specific example for each.

Instructions Write at least a three-paragraph document addressing the following points: Describe the 2 different types of risks and provide 2 small business examples for each. Compare the 4 options to manage risks. Contrast 3 common types of insurance in terms of a business's risks, including a specific example for each.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Instructions

Write at least a three-paragraph document addressing the following points:

Describe the 2 different types of risks and provide 2 small business examples for each.
Compare the 4 options to manage risks.
Contrast 3 common types of insurance in terms of a business's risks, including a specific example for each.

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Step 1: Introducing Risks:

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Step 2: Describing 2 different types of risks with proper examples:

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Step 3: Comparing four different options to manage risks:

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Step 4: Contrast 3 common types of insurance in terms of a business's risks with proper examples:

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