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MKT 34

AB
riskthe possibility of financial loss
risk managementthe systematic process of managing an organization's risk exposure to achieve objectives in a manner consistent with public interest, human safety, environmental factors, and the law
business risksthe possibility of business loss or failure
economic riskstype of business risks that occur from changes in overall business conditions
natural riskstype of business risks that result from natural causes such as floods, tornadoes, droughts, earthquakes, and unexpected changes in normal weather conditions
human riskstype of business risks caused by human mistakes, as well as the unpredictablity of customers, employees, or the work environment
insurance policya contract between a business and an insurance company to cover a certain business risk
extended coverageoptional insurance coverage on a basic property coverage policy
fidelity bondsprotects a business from employee dishonesty
performance bondsinsurance against losses that might occur when work on a contract is not finished on time or as agreed; also called surety bonds


www.pages.cms.k12.us/debrastephens
East Mecklenburg High School
Charlotte, NC

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