Marketing Essentials

Section 2: Handling Business Risks

After You Read Online Action

Key Terms and Concepts

1. Four basic ways to handle business risks are risk prevention and control, risk transfer, risk retention, and risk avoidance.
2. Providing safe working conditions and safety instruction, screening and training of employees, preventing external theft, and controlling employee theft.
3. Three ways to transfer risk include purchasing insurance, providing product and service warranties, and transferring risks through business ownership.

Academic Skills

4. Internal theft = $15,840,000,000
5. External theft = $10,230,000,000
6. Student articles should demonstrate an understanding of shoplifting as well as identify the source of the article.