Title: Unit 8 Assignment
Course: SLF 129 Legal Risk Management for The Small Business - Updated Sept 28 > Section: SLF 129 Legal Risk Management for The Small Business - Updated Sept 28

Unit 8 Assignment

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Unit 8 Assignment

Dropbox Assignment:

(worth 50 pts)

You completed a risk management plan for the pre-seminar assignment.  Now I would like for you to add to that original plan for a complete working risk management plan for your proposed business.

This document would be used as a part of an overall business plan that might be submitted to a bank or an investor.  A well thought out risk management plan will not only help identify possible risks, but also provide greater potential for profits and reduced risk of bankruptcy.

These plans need to be thought of as a living document that will be reviewed and updated as risk and the environment changes.

Your plan should include a paragraph summary of each of the following business risk categories.  Make sure you identify the specific risk(s) inherent to your business and a plan of action on how you would address these risks in your summary:

- Commercial risk: such things as leases, risk of doing business as it relates to customers or non-customers, product or service risks, risks associated with business growth or decline, etc.
- Financial risk: cash flow disruptions or fluctuations, tax obligations, business loan obligation risk, accounting and financial risk, etc.
- Legal risk: are there any specific legal risks associated with a product or service you provide, any possible contracts risks such as providing a long term service, any risk that might be encountered if you give advice, any other environmental legal risks.
- Health and Safety risks: such things as a safe working environment both within your premise or outside on the job, anything that could pose a risk to an employee, customer, or non-customer.
- Environmental risks: any risk that might be caused by the environment which could harm people, premise, or equipment, any possible environmental issues that might pertain to providing your product or service.
- Security risks: any risks that could pose a security issue, such as building and equipment or employees or customers.
- Equipment risks: any risks associated with equipment that would be needed for operation of your business or any equipment that might be used by clients or customers, issues of maintenance and or replacement.
- Technology risks: any risk that might be associated with the use of or preservation of technology or business information, any upgrades or maintenance agreements with respect to hardware or software.
- Owners/Stakeholders risks: any risk that might be present with respect to ownership relationship, such as death, succession, or buy outs.