Every business is fraught with potential risks, whether this business is a huge banking corporation like the Bank of America or Citibank or just a small-sized business like a budding electrical contractor. Risks are definitely part and parcel of running a business and, as such, you should not be daunted by them. In fact, you usually become a great manager the moment you learn to anticipate all possible business problems, whether these problems originate beyond your control or within your circle of influence.
If a problem is within your control, you can prevent its onset. But if it originates from beyond your control, then all you can do is to mitigate its impact. An example of business risk which was beyond your ability to prevent was the stock market crash of 2008. It was beyond your…
