1. Financial Risks
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Cash flow shortages
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Rising interest rates
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Investment losses
💡 Solution: Financial planning, building reserve funds, and budgeting control
2. Market Risks
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Changes in customer demand and pricing
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Stronger competition
💡 Solution: Market research, customer analysis, and adaptive marketing strategies
3. Legal/Regulatory Risks
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Tax policy shifts, changes in laws, licensing issues
💡 Solution: Regular legal audits and compliance monitoring
4. Operational Risks
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Internal process failures, employee mistakes, or system breakdowns
💡 Solution: Strong internal controls, staff training, and clear procedures
5. Reputational Risks
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Negative publicity, bad customer experiences, social media backlash
💡 Solution: Quality control, crisis communication plans, and brand monitoring
6. Technological Risks
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Cyberattacks, outdated systems, data breaches
💡 Solution: Cybersecurity policies, regular backups, and IT upgrades
7. Human Resource Risks
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High employee turnover, lack of skilled workers
💡 Solution: Employee development, retention strategies, competitive HR policies
8. External/Environmental Risks
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Political instability, natural disasters, pandemics
💡 Solution: Emergency preparedness plans and business insurance
9. Currency/Exchange Rate Risks
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Volatile exchange rates affecting international trade
💡 Solution: Currency hedging, multi-currency accounts, and diversification
10. Strategic Risks
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Failed product launches, poor investment choices, or wrong market entry
💡 Solution: Risk assessments before major decisions, pilot projects, and flexibility