Risk management

Unit II Scholarly Activity

Risk Assessment

Complete the three parts of this assignment.

1. In the space provided below, please provide a description of your business and your business’s specialty to provide and introduction and context for the assignment. Your description should consist of at least 100 words.

2. Using the table provided below, list at least eight risks with which your business is faced, possible solutions for these risks, the risk type (P=process, M=marketing, F=financial, H=human resource, L=legal), and the risk impact to your business (L=low, M= medium, H=high). Remember that some risks can be applicable to more than one risk type.

Risk DescriptionRisk TypeRisk ImpactPotential Action for Improvement

3. Please explain, in a paper of at least 500 words, how you determined whether each risk was low, medium, or high impact, and include a more detailed plan for improvement.