Unit 7 Part 5 Assessing and managing the risks: deadline 3rd December 2014

Entrepreneurs take on bigger than expected risks as they are often motivated by the 

bigger than expected rewards but from Unit 1 we know that success comes from managing 

the risks and business plans, financial control, market research, identifying a gap in the 

market and recruiting the right people all help reduce these risks.  Once you have 

considered all the risks that your business generates:

1. List the four main risks you think are important to your business
2. Explain each one and state how likely it is to occur and how serious it would be if it did!
3. Suggest what action could be taken if the risk turned into reality
4. Give an overall opinion as to how serious a risk it is