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Types of Business Risks That You Are Prone to
by Joshua Nyamache
You and I know very well that the business world is dynamic and full of business risks. The future is uncertain and what seemed to work well just yesterday is not a guarantee that it will today. Things can change any time and the changes may bring opportunities or misery in our businesses.
The future is unpredictable and planning alone cannot completely free us from risks. Many businessmen get it wrong that if they plan well, their businesses will be completely protected from them. But there are some losses that you cannot control.
The current world of business is full of aggressive marketers who compete to outdo their competitors so that their businesses survive on the market. If they fail to be alert on what their competitors are doing on the marketing, then they risk from losing business.
But even although you realize losses in your business, the good news is that you are able to mitigate the losses. There are several ways you can prevent them from ruining your business. You know that...
As a businessman you will notice that the marketing process you undertake involves business losses. If a loss occurs in the course of executing your marketing process, then it will deny you the profits you were expecting after selling your services or products.
There are many types of business risks and they are classified on different basis. They are:
A. Ones Resulting from Changes in the Market Conditions Basis
They result from fluctuations in the market prices. The fluctuation in the market is brought about by three factors, namely; time, place and competition. Let's discuss each factor into details.
Time - plays a role in influencing prices on the market and it can results into losses. Producers may manufacturer products in large quantities with anticipation that the market price will rise in any time. The whole sellers and retailers will also stock these products in large quantities with the same anticipation of increased prices. But later on, the anticipated increase in prices will not occur in the market.The demand for these products will fall and the prices will also fall. Now, both the producers, manufactures and retailers will incur losses brought about by time factor.
Place factor - is caused when there is a difference in pricing that prevails in different markets at the same time. You will buy products from one market only to be forced to sell them at a lower price in the selling market hence incurring losses.
Competition factor - This will results into losses if you don't keep up with the competition on the market. You should be alert on what your competitors are doing on the market to influence your business sales.
B. Ones Resulting Out of Natural Causes Basis
These are beyond your control in your business. You will just watch them as they ruin your established business. Are you able to control earthquakes, fire, storms, hurricane winds and rain that causes flood? It's impossible and only God is able. But you can mitigate the losses that arise from this type of risk.
C. Ones Resulting from Human Behaviors Basis
These are the risks that you create in your business. You are absolutely responsible for them. Since you are the creator, you can control them from occurring in your business. Examples are bad debts, shoplifting in your business / thefts etc
About the Author
J. Nyamache has been in the business of selling domain name. He has information that helps many online business aspirants to select and register quality domain names for their businesses. Click here to subscribe his Absolutely free domain names newsletter.
Proteus - Fantasia
Label: Asmodee Productions
Catalog#: APM 92.0052
Format: Vinyl, 12"
Country: France
Released: 1992
Genre: Electronic
Style: Acid
Notes: All tracks written and produced by Greg Dewindt.
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