Types of Risks
POBF 5.02
Risk
Ex: hazards in a business
http://www.google.com/url?sa=i&rct=j&q=risk&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB0&url=http%3A%2F%2Fwww.forbes.com%2Fpictures%2Fghed45ehl%2Fsome-risks-impossible-to-insure%2F&ei=EeiFVKfcLMOdNuz4gYgB&bvm=bv.80642063,d.eXY&psig=AFQjCNFwCpzNOB_Tq1jBc56tMw1tlyFpcg&ust=1418148174142288
Economic Risk
Ex: Launching a luxury item immediatly before or during a reccession
http://www.google.com/url?sa=i&rct=j&q=economic+risk&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB0&url=http%3A%2F%2Fwww.pieria.co.uk%2Farticles%2Ffundamental_value_in_a_risk-free_free_world&ei=S-mFVLXdNsyrggSQjoBI&bvm=bv.80642063,d.eXY&psig=AFQjCNHYHLH3Sfef-PEo79jt6IHhnG3tzg&ust=1418148540486963
Non-Economic Risk
Ex: Climate change
http://www.google.com/url?sa=i&rct=j&q=non-economic+risk&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB0&url=http%3A%2F%2Fwww.shareable.net%2Fblog%2Fno-money-no-worries-vivan-los-gifts&ei=HuqFVPKOLcqqggTb8oLQAQ&bvm=bv.80642063,d.eXY&psig=AFQjCNGHgaJPccC05yqcKSFFfUQeoCAqgw&ust=1418148724034182
Pure Risk
Ex: Rain/Wind damage
http://www.google.com/url?sa=i&rct=j&q=pure+risk&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB0&url=http%3A%2F%2Fcatalog.flatworldknowledge.com%2Fbookhub%2F1%3Fe%3Dbaranoff-ch01_s04&ei=wuqFVM_6FIfigwSuwoCICA&bvm=bv.80642063,d.eXY&psig=AFQjCNGf1xEMamOShydd5lLXxVIgPeB_RQ&ust=1418148882231986
Speculative Risk
Ex: Gambling
http://www.google.com/url?sa=i&rct=j&q=speculative+risk&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB0&url=http%3A%2F%2Fomegainc.com%2Fblog%2Fbid%2F178961%2FClassify-Your-Risks-into-4-Basic-Types&ei=OieHVN2vK4HpgwSAuYSoDA&bvm=bv.81449611,d.eXY&psig=AFQjCNGz3IZNPP8tfAc_8k1otvUI7tD86g&ust=1418229942691329
Controllable Risk
Ex: how much you pay people and what benefits you offer
http://www.google.com/url?sa=i&rct=j&q=controllable+risk&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB0&url=http%3A%2F%2Fwww.best-practice.com%2Frisk-management-best-practices%2Ffinancial-risk-management%2Frisk-management-risk-control-%25E2%2580%2593-controllable-and-uncontrollable-risks%2F&ei=SSiHVJnLKIOZNrHqgYgP&bvm=bv.81449611,d.eXY&psig=AFQjCNEmHq3sevre2fWJbEdvBaihEH8JMw&ust=1418230200022244
Uncontrollable Risk
Ex: if the customers dont pay back their store credit
http://www.google.com/url?sa=i&rct=j&q=uncontrollable%20risk&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB0&url=http%3A%2F%2Fwww.keepcalm-o-matic.co.uk%2Fp%2Fkeep-calm-and-know-the-risk-factors-uncontrollable%2F&ei=xCiHVK35M4KbgwSmyIOYBQ&bvm=bv.81449611,d.eXY&psig=AFQjCNFez23jnfENtmrwVROLxar-lOyE4Q&ust=1418230305680053
Insurable Risk
Ex: Business truck gets into a wreck
http://www.google.com/url?sa=i&rct=j&q=insurable+risk+examples&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB0&url=http%3A%2F%2Fentreconnection.com%2Finsurable-risks-what-can-be-protected%2F&ei=SSmHVPe1PMLsgwTvzYLIAg&bvm=bv.81449611,d.eXY&psig=AFQjCNEANZXtnqW2J587hGTi5TRshT_WUQ&ust=1418230472508168
Uninsurable Risk
Ex: If a new product will make money
http://www.google.com/url?sa=i&rct=j&q=uninsurable+risk+examples&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB0&url=http%3A%2F%2Feducation-portal.com%2Facademy%2Flesson%2Fways-to-manage-risk-insurable-and-uninsurable-risk.html&ei=vCmHVNiNHcagNonRgYgH&bvm=bv.81449611,d.eXY&psig=AFQjCNFOkgSg-sqQ82n4eiVUjL9BLm5zSQ&ust=1418230583636658