Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Risk Involved in your Business and how it affects you

By Mark Bennett Subscribe to RSS | March 7th 2012 | Views:
loading
 
  



Last week, I was watching a movie from the channel service offered by Dish TV Packages. In the movie, the protagonist says that ‘A life without risk is like no life at all’. It seems to be true, but if you are a businessman risk can be your biggest nightmares.

Risk is inherited in every business. There can’t be any business which does not have risk involved in it. One thing you ought to know is that repeated and successful risk takers go in with their eyes open, measure the risk and understand exactly what they have to do before they take the plunge. Among them could be the high level managers and bosses. It doesn't mean that they are great risk taker and avoiders. Some people manage risk better than others and clearly the more they know about the circumstances, the less risks they will take. In the case of the top level managers and bosses, they can take risk with big wins as they know that behind them is a huge team.

This team consists of people who research, check, and tends to the basic. This leaves the Captain (since the person guides the organization, which you may think is quite exaggerating) to look like a maverick risk taker and genius. He or she would be minimizing the risk and jumping in only after checking and double checking and lots due to diligence.

If you are a businessman, you seriously won’t have this luxury. Since it is your business and you have to keep an eye looking over your shoulder and pay detailed attention to the issues all around you at the same time. Frankly, one tends to the basic unless you do. You need to think of the various angles and scenarios of how risk can come and what effect it has. Okay it can be easy to ignore the risk as they could be outside your experience , but failing to see them can be highly critical and will have an adverse effect on your business. Some basic risks in your business are more obvious than others and always you need to lookout for these risks. Try to deal with the ones that you take the most often and leave the real risk taking in areas that you really know about.

Some of the potential risk that you could come across in your business is not having enforceable terms and conditions with your client. In some cases it could also be not having any terms of business at all. Also you may not regularly check for existing client base for adverse information or changes in their status. Even not knowing the exact name or registered name of the client could be a great risk that could potentially harm you. In case you have a joint-venture or partnership concern, there could be risk in not having a clear agreement with your partners and Co-Directors.

Many of the businessmen make the basic mistake of failing to set their business up in the right and exact way. This will naturally affect you as the benefit which you wanted will become late and sometimes you may never get it. Sometimes you could also inherit risk when you don't have a proper contract of employment handbook. It can be a serious risk as without having a proper employee code of conduct, there are chances your employees’ terms and conditions will become invalid. It is even a risk when you don't check the credit worthiness before you sell goods and services. Whenever you are selling commodities you always have to check the credit worthiness in case if it is a new client.

In short, risk is there in every business. You need to try to find ways and means to minimize this risk. As risk cannot be averted or turned away, making sure that the risk doesn’t affect you in a grievous way should be your main concern.

Mark Bennett - About Author:
Mark is a freelance writer and columnist. Also being an active blogger, he likes to share his thoughts with the rest of the world and to source out some great deals on home services like the one offered by Dish TV Packages

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/risk-involved-in-your-business-and-how-it-affects-you.htm

Related Business Articles Subscribe to RSS

Find Jewish matchmaker online; find a life partner
Published by Kewinzork on February 24th 2012 | Business
When people do not know where to find likeminded people or those corporate houses which are run by p...
 
De-cluttering life, one storage idea at a time
Published by Simon Dcruz on March 1st 2012 | Business
Self storage solutions are what come to mind in situations like these. One can rent as much space as...
 
Role of electricians in the industries and our day to day life
Published by Ema Sis on April 5th 2012 | Business
Electricians play a significant function within our life to make sure safety along at the wiring app...
 
ColorFx- Closer to real life
Published by James Blee on May 11th 2012 | Business
According to one recently concluded survey, the fan following for colorfx is on the rise....
 
Protecting and prolonging the life of pavement
Published by Derek Hill on March 20th 2012 | Business
The surprisingly reasonable installation cost of asphalt pavement as opposed to concrete puts proper...
 
Esee Knives can mean the difference between life and death in dangerous situations.
Published by Mary Porter on June 29th 2012 | Business
Esee knives are made in the United States, but you can buy them in a several places in Europe. It is...
 
Dream house with unique designs looks perfect for today’s life style
Published by Jake Hecht on January 13th 2012 | Business
The world’s best luxurious home at dream estate can build unique home in a reasonable cost. We are...
 
You life wrapped up in cardboard boxes
Published by Mary Porter on June 25th 2012 | Business
These memories that we pack into these cardboard boxes may not even be looked at for many more years...
 
What can be done to enhance your camera battery life?
Published by Michael Thompson on June 18th 2012 | Business
As we are aware of the various electronic devices that use batteries as their source of power, so do...
 
Purchase an edge over the rest with mcitp certifications - the High Quality in Your life
Published by Water123 on December 6th 2011 | Business
A network+ certification is feather in the cap of any IT professional because the accreditation will...
 
Criminal Defense Lawyer - Do Not Let False Claims Mess-Up Your life
Published by Dimitri Kontou on December 15th 2011 | Business
Choose the right legal attorney so that he can represent you in court smartly and fight for you agai...
 
70-680 - the High Quality in Your life
Published by Hanliu1003@hotmail.com on December 7th 2011 | Business
With increasing importance of information technology in nearly all industries and organizations, a C...
 
Enjoy your life with second hand cars for sale in Gurgaon
Published by Dany on July 19th 2012 | Business
Trend of buying used cars in Gurgaon is growing rapidly. Now, not only the car market with new cars ...
 
Uses of a packaging box in daily life
Published by John Davis on November 25th 2011 | Business
Packaging boxes play a vital role in our lives. They are found all around us, from homes to offices....
 
Importance of recycling in our everyday life:
Published by Jullia on December 15th 2011 | Business
Recycling is a process through which waste products are collected and treated in such a way so as to...
 
I phone application development changes the life of people
Published by Iphoneipadandroid Applicationdevelopment on February 26th 2012 | Business
Booming of the business of Iphone application brings a great potential in the field of communication...
 
A lavish life style with real estate Chandigarh
Published by Deepti on March 22nd 2012 | Business
Chandigarh is the best destination when it comes to real estate investment. Buying a property in Ch...
 
Connection coaching for better quality of life
Published by Ashish Pandey on June 7th 2012 | Business
Connection Coaching can offer you a good life with constant evolution. It can be great for your over...
 
Sitandgoshark Vouchers/codes are a great way to save on the necessities in your life
Published by Gayathri SriValliDevi on April 27th 2012 | Business
These website offer an interface for people to share Sitandgoshark Vouchers/Sitandgoshark Voucher Co...
 
Ask a Product Design Consultancy to bring your dreams to life
Published by James Blee on June 19th 2012 | Business
Some of the greatest inventions have begun life with a simple flash of inspiration. It’s what you ...