Itb Chap 14

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  • Itb Chap 14

    1. 1. Risk Management 14-1 Overview of Risk Management 14-2 Insurable Risks 14-3 Uninsurable Risks 14
    2. 2. LESSON 14-1 Overview of Risk Management <ul><li>Goals </li></ul><ul><li>Identify the types of risks facing businesses. </li></ul><ul><li>Describe ways that businesses can deal with risks. </li></ul>Chapter 14 Slide
    3. 3. Key Terms <ul><li>risk </li></ul><ul><li>economic risk </li></ul><ul><li>personal risk </li></ul><ul><li>property risk </li></ul><ul><li>liability risk </li></ul><ul><li>pure risk </li></ul><ul><li>controllable risk </li></ul><ul><li>insurance </li></ul>Chapter 14 Slide
    4. 4. IDENTIFYING RISKS <ul><li>Types of risks </li></ul><ul><ul><li>Economic and non-economic risks </li></ul></ul><ul><ul><li>Pure and speculative risks </li></ul></ul><ul><ul><li>Controllable and uncontrollable risks </li></ul></ul><ul><ul><li>Insurable and uninsurable risks </li></ul></ul>Chapter 14 Slide
    5. 5. >> C H E C K P O I N T <ul><li>What is a risk? </li></ul>Chapter 14 Slide
    6. 6. DEALING WITH RISKS <ul><li>Avoid the risk </li></ul><ul><li>Transfer the risk </li></ul><ul><li>Insure the risk </li></ul><ul><li>Assume the risk </li></ul>Chapter 14 Slide
    7. 7. POSSIBLE WAYS TO DEAL WITH RISK Chapter 14 Slide Method Activity Avoid Choose not to complete the risky activity Transfer Find another business to complete the activity Insure Purchase insurance to pay for any losses Assume Complete the activity with full responsibility
    8. 8. >> C H E C K P O I N T <ul><li>Identify four ways that business can deal with risks. </li></ul>Chapter 14 Slide
    9. 9. LESSON 14-2 Insurable Risks <ul><li>Goals </li></ul><ul><li>Recognize important insurance concepts. </li></ul><ul><li>Describe several types of business insurance. </li></ul>Chapter 14 Slide
    10. 10. Key Terms <ul><li>insurers </li></ul><ul><li>insured </li></ul><ul><li>policyholder </li></ul><ul><li>insurance policy </li></ul><ul><li>premium </li></ul><ul><li>claim </li></ul>Chapter 14 Slide
    11. 11. PURCHASING INSURANCE <ul><li>Insurance basics </li></ul><ul><li>Insurance companies </li></ul><ul><li>Insured losses </li></ul>Chapter 14 Slide
    12. 12. >> C H E C K P O I N T <ul><li>What information should be considered when selecting an insurance company? </li></ul>Chapter 14 Slide
    13. 13. BUSINESS INSURANCE <ul><li>Insuring personnel </li></ul><ul><ul><li>Health insurance </li></ul></ul><ul><ul><li>Disability insurance </li></ul></ul><ul><ul><li>Life insurance </li></ul></ul><ul><li>Insuring property </li></ul><ul><li>Insuring business operations </li></ul>Chapter 14 Slide
    14. 14. >> C H E C K P O I N T <ul><li>What are the three major areas that can be covered by business insurance? </li></ul>Chapter 14 Slide
    15. 15. LESSON 14-3 Uninsurable Risks <ul><li>Goals </li></ul><ul><li>Describe why some business risks are uninsurable. </li></ul><ul><li>List the strategies a company can use to reduce the risks of doing business internationally. </li></ul>Chapter 14 Slide
    16. 16. Key Terms <ul><li>property rights </li></ul><ul><li>counterfeiting </li></ul>Chapter 14 Slide
    17. 17. IDENTIFYING RISKS <ul><li>Types of uninsurable risks </li></ul><ul><ul><li>Economic conditions </li></ul></ul><ul><ul><li>Consumer demand </li></ul></ul><ul><ul><li>Competitors’ actions </li></ul></ul><ul><ul><li>Technology changes </li></ul></ul><ul><ul><li>Local factors </li></ul></ul><ul><ul><li>Business operations </li></ul></ul>Chapter 14 Slide
    18. 18. MANAGING RISKS <ul><li>Inform everyone in the business of the types of risks that are particularly important to their part of the operations </li></ul><ul><li>Implement measures to gather information and spot possible problems </li></ul><ul><li>Inspect facilities and equipment </li></ul><ul><li>Be active in local communities </li></ul><ul><li>Build relationships with government officials </li></ul>Chapter 14 Slide
    19. 19. >> C H E C K P O I N T <ul><li>What are several things businesses can do to manage risks? </li></ul>Chapter 14 Slide
    20. 20. RISKS IN INTERNATIONAL BUSINESS <ul><li>Strategies for reducing risk </li></ul><ul><li>International property rights </li></ul>Chapter 14 Slide
    21. 21. >> C H E C K P O I N T <ul><li>Why do U.S. companies have difficulty enforcing intellectual property rights in some international markets? </li></ul>Chapter 14 Slide

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