Title: Assess risks associated with starting a business.
Course: Entrepreneurship, Advanced (12053-II) > Section: Preparing for Life as an Entrepreneur

Assessment should include analyzing all aspects of business for the chance of losing or gaining money. Types of risk include pure risk, speculative risk, controllable risk, uncontrollable risk, and insurable risk.

Process/Skill Questions:

- What risks are faced by business owners?
- How do business risks affect profits?
- How do business risk factors affect business decisions?
- How can companies protect themselves from business risks?
- What are some examples of human risks?
- How can financial risk be minimized?
- Why is it important to identify the risks of the business and include them in the business plan?
- What are the different types of theft, and what can a business owner do to protect the business from the loss that occurs?
- What is the difference between pure risk and speculative risk?