Develop a risk management plan for a business that you fictitiously own.
1000 word minimum.
· In paragraph form provide a discussion of a type of business you would one day like to own. It could be a brick and mortar store or a virtual business.
· After your discussion, identify key threats to the successful operation of your business (be able to discuss at least six threats: 3 internal and 3 external). Explain how these are threats.
· Once you have identified threats to the successful operation of your business, what risk controls will you implement to address each of the six identified threats? Provide a specific and thorough discussion of how each these six controls will reduce or eliminate the threat considerably. Are there any threats or risks of you implementing your risk control plan? If so, discuss what they are. If not, discuss why your risk management plan is sound.
· Finally, discuss how personal insurance for you as the business owner would help to eliminate a risk that you identified as one or your internal or external threats.
-Identifies a creative, focused, and manageable topic clearly addressing important points.
-Uses in-depth information from relevant sources representing multiple points of views (3 or more) or research aspects (3 or more).
-Demonstrates the ability to construct a clear and insightful problem statement/thesis statement/topic statement with evidence of all relevant contextual factors.
-Organizes and compares evidence to reveal insightful patterns, differences, or similarities related to focus.
-Assembles a conclusion that is a logical interpretation from findings.
-Insightfully discusses in detail relevant and supported limitations and implications.