Risk Awareness: The establishment of Small Business

Risk in small define as "circumstance in which there is a chance of a negative deviation from an expected outcome"

• Yes

• No

• Not sure

There are two risk Management technique can be applied in managing the small

• True

• False

Interruption of the business operation is example of ________ risk

• Fraud

• Strategic

• Financial

Direct cause of loss such as fires, hurricanes, theft refer to

• Peril

• Hazard

There two impact of fraud risk

• Risk Impact

• Business Impact

• Reputational Impact

Speaker experiencing scamming loss of RM500. Which risk he been exposed to?

• Strategic Risk

• Fraud Risk

• Financial Risk

The technique of risk management involve avoidance, loss prevention and loss reduction. Which technique is that?

• Risk Control

• Risk Financing

Why risk awareness important in small business?

• acknowledgement of potential hazards, risks and events that occur and cause harm to a business

• Businesses should be aware of risk to prevent the loss and prepare for it

• Only a few SMEs are taking important in having a risk management plan

• All above

There are pros and cons the impact of financial risk . What is the pros?

• Can be identified using analysis tools

• Can arise from external forces that are uncontrolled or unexpected

• It can be challenging to overcome.

• Encourage the business to do smarter decisions

What the speaker do to handle his strategic risk?

• SWOT analysis

• Look for the similar product

• All of it