Business Studies Chapter 12

Vision, mission, value statement, organisational structure, goals and objectives

• Strategy

• Risk Management

• Business operations

The allignment between business strategy and business operations

• Strategy

• Risk Management

• Business operations

Implementing policies, managing processes, monitoring and controlling daily activities

• Strategy

• Risk management

• Business operation

Action is taken to limit the possibility of the risk occuring and/or to mitigate the impact of the risk

• risk reduction

• risk acceptance

No action is taken to stop the risk or limit the impact

• risk reduction

• risk acceptance

A Nando's political advertisement

• risk profile

• risk culture

A businesses attitude to taking and accepting risks. eg. Nandos

• risk profile

• risk culture

risks associated with the internal operations of the business

• operational risks

• country risks

political, economic risks

• operational risks

• country risks

flooding and droughts

• environmental risks

• reputational risks