Risk and planning go hand and hand. If your business activities are likely to pose risks,...

Risk and planning go hand and hand. If your business activities are likely to pose risks, who (as a guide) will help you best manage those risks? What are your options? Which option makes the most senses?

Expert Solution

I think risk manager might help me in reducing or mitigating the inherited risks in business operations.

I have following options,

1) Opting less risky portfolios

2) Taking a chance on riskier but highly profitable business operations

3) Offering training and professional development to the employees and top level officials

4) Other options

Choosing a particular option will be dependent on the attitude, organizational capabilities and business goals of an organization. A business having huge capital gains may take chance in expansion strategies.

For my mid size business, Doing business in a less risky portfolios will be a suitable strategies. Meanwhile, i will take suggestions from risk manager of my business . This person will asked to offer cost and benefits analysis. A forecasted profit and loss statement. Even, he might offer insights about appropriate business practices having less chance of failure.

keosha answered 2 hours ago

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