Risk Management

By: A Staff Writer

Updated on: Sep 23, 2024

Entrepreneurs and small business owners perform and are accountable for several essential tasks. Here are their functions for Risk Management. Of course, while they can delegate or outsource, the buck stops with them.

The following is the list of overall categories.

Strategic Planning and Vision
Finance and Accounting
Operations Management
Marketing and Sales
Product Development
Customer Service
Human Resources Management
Networking and Partnership Development
Technology and Innovation
Legal and Compliance
Risk Management
Personal Development

Now, let’s look at the tasks in the following category.

Risk Management

• Identify potential risks
• Develop risk mitigation plans
• Conduct risk assessments
• Monitor risk factors
• Manage insurance policies
• Plan for business continuity
• Implement safety measures
• Evaluate risk exposure
• Adjust risk strategies
• Train staff on risk management

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