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timedRefresh: 0, waitForThirdParty: false }, targeting: Mntl.fnUtilities.deepExtend({}, { pos: 'partnerlinks1', priority: 3 }) }); initialSlots.push({ config: { id: 'partnerlinks2', sizes: [[300, 55]], type: 'partnerlinks', rtb: false, timedRefresh: 0, waitForThirdParty: false }, targeting: Mntl.fnUtilities.deepExtend({}, { pos: 'partnerlinks2', priority: 3 }) }); initialSlots.push({ config: { id: 'partnerlinks3', sizes: [[300, 55]], type: 'partnerlinks', rtb: false, timedRefresh: 0, waitForThirdParty: false }, targeting: Mntl.fnUtilities.deepExtend({}, { pos: 'partnerlinks3', priority: 3 }) }); initialSlots.push({ config: { id: 'partnerlinks4', sizes: [[300, 55]], type: 'partnerlinks', rtb: false, timedRefresh: 0, waitForThirdParty: false }, targeting: Mntl.fnUtilities.deepExtend({}, { pos: 'partnerlinks4', priority: 3 }) }); initialSlots.push({ config: { id: 'textnote', sizes: [[1, 5]], type: 'textnote', rtb: false, timedRefresh: 0, waitForThirdParty: false }, targeting: 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When a business has a thorough and carefully created risk management plan in place, and when it is able to iterate on that plan to deal with new and unexpected risks, the business is more likely to survive the impact of both internal and external risk.<\/p>" } } , { "@type": "Question", "name": "What Are Internal Risks That Can Impact a Business?", "acceptedAnswer": { "@type": "Answer", "text": "<p>Internal risks that can impact a business often come from decisions made by the management or executive team in pursuit of growth. These decisions can create physical or tangible risks. For example, on-site risks such as fires, equipment malfunctions, or hazardous materials can jeopardize production, endanger employees, and lead to legal or financial penalties. 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sticky-toc-wrapper mntl-block js-sticky-container"><div id="sticky-toc_1-0" class="comp sticky-toc mntl-sticky-toc mntl-block sticky-toc-widget" data-desktop-bp="70em"><div id="toc-wrapper_1-0" class="comp toc-wrapper mntl-toc mntl-block" data-offset="60" data-tracking-container="true"><div id="mntl-toc__inner_1-0" class="comp mntl-toc__inner mntl-block"><div id="mntl-toc__heading_1-0" class="comp mntl-toc__heading mntl-block js-toc-toggle"><span id="mntl-toc__heading-text_1-0" class="comp mntl-toc__heading-text mntl-text-block">Table of Contents</span> <div id="mntl-toc-toggle_1-0" class="comp mntl-toc-toggle mntl-block"><button id="mntl-toc-toggle__btn_1-0" class="comp mntl-toc-toggle__btn mntl-text-block js-mntl-toc-toggle" data-collapsed-text="Expand" data-expanded-text="Collapse">Expand</button></div></div> <div id="mntl-toc__mobile-toggle_1-0" class="comp mntl-toc__mobile-toggle mntl-block js-sticky-toggle"><span id="mntl-toc__heading-text_2-0" class="comp mntl-toc__heading-text mntl-text-block">Table of Contents</span> <svg class="icon icon-drawer-arrow " > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-drawer-arrow" href="#icon-drawer-arrow"></use> </svg></div> <ul id="mntl-toc__list_1-0" class="comp mntl-toc__list mntl-toc__list-heading expert-content"><li id="mntl-toc__list-item_1-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_1-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-what-is-business-risk" rel="nocaes" id="mntl-toc__list-item-link_1-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">What Is Business Risk?</span></a></div></li> <li id="mntl-toc__list-item_2-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_2-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-understanding-business-risk" rel="nocaes" id="mntl-toc__list-item-link_2-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">Understanding Business Risk</span></a></div></li> <li id="mntl-toc__list-item_3-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_3-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-types-of-business-risk" rel="nocaes" id="mntl-toc__list-item-link_3-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">Types</span></a></div></li> <li id="mntl-toc__list-item_4-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_4-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-reducing-business-risk" rel="nocaes" id="mntl-toc__list-item-link_4-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">Reducing Business Risk</span></a></div></li> <li id="mntl-toc__list-item_5-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_5-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-what-are-the-4-main-types-of-business-risk" rel="nocaes" id="mntl-toc__list-item-link_5-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">FAQs</span></a></div></li> <li id="mntl-toc__list-item_6-0" class="comp mntl-toc__list-item mntl-block"><div id="mntl-toc__list-item-heading_6-0" class="comp mntl-toc__list-item-heading mntl-block"><a href="#toc-the-bottom-line" rel="nocaes" id="mntl-toc__list-item-link_6-0" class="mntl-toc__list-item-link mntl-text-link mntl-toc__list-item-link js-mntl-toc-link" data-tracking-container="true" ><span class="link__wrapper">The Bottom Line</span></a></div></li></ul></div></div></div></div> </div><div class="loc article-pre-content"><ul id="breadcrumbs_1-0" class="comp breadcrumbs mntl-breadcrumbs mntl-block" data-tracking-container="true"><li id="mntl-breadcrumbs__item_1-0" class="comp mntl-breadcrumbs__item mntl-block"><a href="https://www.investopedia.com/business-4689640" rel="nocaes" id="mntl-text-link_1-0" class="mntl-text-link mntl-breadcrumbs__link" data-tracking-container="true" ><span class="link__wrapper">Business</span></a></li></ul> <header id="article-header_1-0" class="comp article-header mntl-block right-rail__offset js-toc-appear"><h1 id="article-heading_1-0" class="comp article-heading mntl-text-block">Business Risk: Definition, Factors, and Examples</h1> <div id="sponsorship-wrapper_1-0" class="comp sponsorship-wrapper mntl-block"></div> <div id="article-meta_1-0" class="comp article-meta mntl-block" data-tracking-container="true"><div id="finance-bylines_1-0" class="comp finance-bylines mntl-bylines"><div id="mntl-bylines__group_1-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--author"><div id="mntl-bylines__item_1-0" class="comp mntl-bylines__item mntl-attribution__item mntl-attribution__item--has-date"> <span class="mntl-attribution__item-descriptor">By</span> <div data-tooltip="Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School for Social Research and Doctor of Philosophy in English literature from NYU." tabindex="0" data-inline-tooltip="true"> <a href="https://www.investopedia.com/contributors/53661/" rel="nocaes" data-trigger-link="true" class="mntl-attribution__item-name" tabindex="-1" >Will Kenton</a> <div id="mntl-author-tooltip_1-0" class="comp mntl-author-tooltip mntl-tooltip mntl-group"> <div class="mntl-author-tooltip__top "> <div class="mntl-author-tooltip__image-wrapper"> <div class="img-placeholder" style="padding-bottom:150.0%;"> <img data-srcset="https://www.investopedia.com/thmb/ZPvfWnNTIUoaFnnSSiJO4qRIRco=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/wk_headshot_aug_2018_02__william_kenton-5bfc261446e0fb005118afc9.jpg 90w" data-sizes="90px" data-src="https://www.investopedia.com/thmb/Zci_gLbtyoAYqP8DBmu7x9t0SnQ=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/wk_headshot_aug_2018_02__william_kenton-5bfc261446e0fb005118afc9.jpg" class="lazyload mntl-author-tooltip__image" width="90" height="200" /> <noscript> <img src="https://www.investopedia.com/thmb/Zci_gLbtyoAYqP8DBmu7x9t0SnQ=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/wk_headshot_aug_2018_02__william_kenton-5bfc261446e0fb005118afc9.jpg" srcset="https://www.investopedia.com/thmb/ZPvfWnNTIUoaFnnSSiJO4qRIRco=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/wk_headshot_aug_2018_02__william_kenton-5bfc261446e0fb005118afc9.jpg 90w" alt="" width="90" height="200" class="img--noscript mntl-author-tooltip__image" /> </noscript> </div> </div> <a href="https://www.investopedia.com/contributors/53661/" rel="nocaes" id="finance-author-tooltip__link_1-0" class="finance-author-tooltip__link mntl-text-link " data-tracking-container="true" ><span class="link__wrapper">Full Bio</span></a> <div id="finance-author-tooltip__social_1-0" class="comp finance-author-tooltip__social finance-social-nav mntl-social-nav" data-tracking-container="true"> <ul class="social-nav__list"> <li class="social-nav__item social-nav__item--linkedin"> <a href="https://www.linkedin.com/in/will-kenton-7a099b5/" target="_blank" rel="noopener nocaes" data-text="Follow" class="social-nav__link social-nav__link--linkedin" aria-label="Visit Will Kenton's LinkedIn" > <svg class="icon icon-linkedin social-nav__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-linkedin" href="#icon-linkedin"></use> </svg> </a> </li> </ul> </div> <div class="mntl-author-tooltip__bio"> Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School for Social Research and Doctor of Philosophy in English literature from NYU. </div> </div> <div class="mntl-author-tooltip__bottom"> <span class="mntl-author-tooltip__learn-more-text">Learn about our </span> <a href="/legal-4768893#editorial-policy" rel="nocaes" class="mntl-author-tooltip__learn-more-link" >editorial policies</a> </div> </div></div> </div> <div class="mntl-attribution__item-date">Updated June 12, 2024</div></div> <div id="mntl-bylines__group_2-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--finance_reviewer"><div id="mntl-bylines__item_2-0" class="comp mntl-bylines__item mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Reviewed by</span> <a href="https://www.investopedia.com/julius-mansa-4799781" rel="nocaes" data-trigger-link="true" class="mntl-attribution__item-name" tabindex="0" >Julius Mansa</a> </div></div> <div id="mntl-bylines__group_3-0" class="comp mntl-bylines__group mntl-block mntl-bylines__group--fact_checker"><div id="mntl-bylines__item_3-0" class="comp mntl-bylines__item mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Fact checked by</span> <div data-tooltip="Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. She has conducted in-depth research on social and economic issues and has also revised and edited educational materials for the Greater Richmond area." tabindex="0" data-inline-tooltip="true"> <a href="https://www.investopedia.com/vikki-velasquez-5198872" rel="nocaes" data-trigger-link="true" class="mntl-attribution__item-name" tabindex="-1" >Vikki Velasquez</a> <div id="mntl-author-tooltip_2-0" class="comp mntl-author-tooltip mntl-tooltip mntl-group"> <div class="mntl-author-tooltip__top "> <div class="mntl-author-tooltip__image-wrapper"> <div class="img-placeholder" style="padding-bottom:124.9%;"> <img data-srcset="https://www.investopedia.com/thmb/QJYyUU7ykJV_Zi3Z6PGQ84B27UM=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/vikki-velasquez-investopedia-portrait-1-18b989d75f1f4d6d9b5b3a47cb3ffc5f.jpg 90w" data-sizes="90px" data-src="https://www.investopedia.com/thmb/woU3YzPYsSeHnXIX3xcxyg6INEc=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/vikki-velasquez-investopedia-portrait-1-18b989d75f1f4d6d9b5b3a47cb3ffc5f.jpg" alt="Vikkie Velasquez" class="lazyload mntl-author-tooltip__image" width="90" height="200" /> <noscript> <img src="https://www.investopedia.com/thmb/woU3YzPYsSeHnXIX3xcxyg6INEc=/90x200/filters:no_upscale():max_bytes(150000):strip_icc()/vikki-velasquez-investopedia-portrait-1-18b989d75f1f4d6d9b5b3a47cb3ffc5f.jpg" srcset="https://www.investopedia.com/thmb/QJYyUU7ykJV_Zi3Z6PGQ84B27UM=/90x0/filters:no_upscale():max_bytes(150000):strip_icc()/vikki-velasquez-investopedia-portrait-1-18b989d75f1f4d6d9b5b3a47cb3ffc5f.jpg 90w" alt="Vikkie Velasquez" width="90" height="200" class="img--noscript mntl-author-tooltip__image" /> </noscript> </div> </div> <div id="mntl-author-tooltip__name_1-0" class="comp mntl-author-tooltip__name mntl-attribution__item "><svg class="icon reviewer-icon mntl-attribution__item-icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#reviewer-icon" href="#reviewer-icon"></use> </svg> <span class="mntl-attribution__item-descriptor">Fact checked by</span> <span id="mntl-author-tooltip__name_1-0" class="comp mntl-author-tooltip__name mntl-attribution__item mntl-attribution__item-name">Vikki Velasquez</span> </div> <a href="https://www.investopedia.com/vikki-velasquez-5198872" rel="nocaes" id="finance-author-tooltip__link_2-0" class="finance-author-tooltip__link mntl-text-link " data-tracking-container="true" ><span class="link__wrapper">Full Bio</span></a> <div id="finance-author-tooltip__social_2-0" class="comp finance-author-tooltip__social finance-social-nav mntl-social-nav" data-tracking-container="true"> <ul class="social-nav__list"> <li class="social-nav__item social-nav__item--linkedin"> <a href="https://www.linkedin.com/in/vikkivelasquez/" target="_blank" rel="noopener nocaes" data-text="Follow" class="social-nav__link social-nav__link--linkedin" aria-label="Visit Will Kenton's LinkedIn" > <svg class="icon icon-linkedin social-nav__icon" > <use xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="#icon-linkedin" href="#icon-linkedin"></use> </svg> </a> </li> </ul> </div> <div class="mntl-author-tooltip__bio"> Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. She has conducted in-depth research on social and economic issues and has also revised and edited educational materials for the Greater Richmond area. </div> </div> <div class="mntl-author-tooltip__bottom"> <span class="mntl-author-tooltip__learn-more-text">Learn about our </span> <a href="/legal-4768893#editorial-policy" rel="nocaes" class="mntl-author-tooltip__learn-more-link" >editorial policies</a> </div> </div></div> </div></div> </div></div></header> </div><div class="loc article-content"><div id="article__primary-video-container--jw_1-0" class="comp article__primary-video-container--jw mntl-block"><div id="article__primary-video--jw_1-0" class="comp article__primary-video--jw mntl-jwplayer mm-video lazyload right-rail__offset aspectratio-16:9" data-bgset="https://cdn.jwplayer.com/v2/media/cmlZggE6/poster.jpg?width=720" data-sizes="auto"> <video class="mntl-jwplayer__video lazyload" preload="none" data-poster="https://cdn.jwplayer.com/v2/media/cmlZggE6/poster.jpg?width=720"></video> </div></div> <div id="article-body_1-0" class="comp article-body mntl-block" data-contain-tooltips="true"><div id="mntl-sc-page_1-0" class="comp mntl-sc-page mntl-block article-body-content" data-sc-sticky-offset="80" data-sc-ad-label-height="0" data-sc-ad-track-spacing="90" data-sc-min-track-height="250" data-sc-max-track-height="600" data-sc-breakpoint="50em" data-sc-load-immediate="1" data-sc-content-positions="[300, 1, 1, 1250, 1, 1, 1, 1]" data-bind-scroll-on-start="true"><span class="heading-toc" id="toc-what-is-business-risk"></span><h2 id="mntl-sc-block_1-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> What Is Business Risk? </span> </h2> <p id="mntl-sc-block_2-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Business risk is the exposure a company or organization has to factor(s) that will lower its profits or lead it to fail. Anything that threatens a company’s ability to achieve its financial goals is considered a <a href="https://www.investopedia.com/articles/financial-theory/09/risk-management-business.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">business risk</a>. </p> <div id="mntl-sc-block_3-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_4-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> There are many factors that can converge to create business risk. Sometimes it is a company’s top leadership or management that creates situations where a business may be exposed to a greater degree of risk. </p> <div id="mntl-sc-block_5-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_6-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> However, sometimes the cause of risk is external to a company. Because of this, it is impossible for a company to completely shelter itself from risk. However, there are ways to mitigate the overall <a href="https://www.investopedia.com/ask/answers/040615/what-risks-does-entrepreneur-face.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">risks associated with operating a business</a>; most companies accomplish this by adopting a risk management strategy. </p> <div id="mntl-sc-block_7-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_8-0" class="comp mntl-sc-block finance-sc-block-callout mntl-block"><div id="mntl-sc-block_9-0" class="comp mntl-sc-block mntl-sc-block-callout mntl-block theme-whatyouneedtoknow" data-tracking-id="mntl-sc-block-callout" data-tracking-container="true"><h3 id="mntl-sc-block-callout-heading_1-0" class="comp mntl-sc-block-callout-heading mntl-text-block">Key Takeaways</h3> <div id="mntl-sc-block-callout-body_1-0" class="comp mntl-sc-block-callout-body mntl-text-block"><ul><li>Business risk is any exposure a company or organization has to factor(s) that may lower its profits or cause it to go bankrupt.</li><li>The sources of business risk are varied but include changes in consumer taste and demand, the state of the overall economy, and government rules and regulations.</li><li>Risk can be created by external factors that the business doesn’t control, as well as by decisions made within the company’s management or executive team.</li><li>While companies may not be able to completely avoid business risk, they can take steps to mitigate its impact, including the development of a strategic risk plan.</li></ul></div></div></div> <figure id="mntl-sc-block_10-0" class="comp mntl-sc-block finance-sc-block-image mntl-sc-block-universal-image mntl-sc-block-image--no-theme no-theme mntl-sc-block-image inline-image figure-landscape figure-high-res"> <div class="figure-media"> <div class="img-placeholder" style="padding-bottom:66.6%;"> <img data-src="https://www.investopedia.com/thmb/PoPvGj-hAJsgUJ7SCm-DWrREkm8=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/Business-Risk-04c7a4bb9cb94bba818125a01bbafb74.jpg" width="1500" height="1000" data-srcset="https://www.investopedia.com/thmb/9QQo9zanPuu90KFPDO8s6AeEPMY=/750x0/filters:no_upscale():max_bytes(150000):strip_icc()/Business-Risk-04c7a4bb9cb94bba818125a01bbafb74.jpg 750w" data-sizes="750px" alt="Business Risk" class="lazyload universal-image__image" data-expand="300" data-hi-res-src="https://www.investopedia.com/thmb/PoPvGj-hAJsgUJ7SCm-DWrREkm8=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/Business-Risk-04c7a4bb9cb94bba818125a01bbafb74.jpg" id=mntl-sc-block-image_1-0 data-tracking-container="true" data-img-lightbox="true" data-click-tracked="true" /> <noscript> <img src="https://www.investopedia.com/thmb/PoPvGj-hAJsgUJ7SCm-DWrREkm8=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/Business-Risk-04c7a4bb9cb94bba818125a01bbafb74.jpg" width="1500" height="1000" class="img--noscript universal-image__image" srcset="https://www.investopedia.com/thmb/9QQo9zanPuu90KFPDO8s6AeEPMY=/750x0/filters:no_upscale():max_bytes(150000):strip_icc()/Business-Risk-04c7a4bb9cb94bba818125a01bbafb74.jpg 750w" sizes="750px" alt="Business Risk" /> </noscript> </div> </div> <figcaption id="mntl-figure-caption_1-0" class="comp mntl-figure-caption type--mouse figure-caption figure-article-caption"> <span class="figure-article-caption-owner"><p>Xiaojie Liu / Investopedia</p></span> </figcaption></figure> <span class="heading-toc" id="toc-understanding-business-risk"></span><h2 id="mntl-sc-block_11-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Understanding Business Risk </span> </h2> <p id="mntl-sc-block_12-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> When a company experiences a high degree of business risk, it may impair its ability to provide investors and stakeholders with adequate returns. For example, the chief executive officer (CEO) of a company may make certain decisions that affect its profits, or the CEO may not accurately anticipate certain events in the future, causing the business to incur losses or fail. </p> <div id="mntl-sc-block_13-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_14-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Business risk is influenced by a number of different factors, including: </p> <div id="mntl-sc-block_15-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <ul id="mntl-sc-block_16-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> <li>Consumer preferences, demand, and sales volumes</li><li>Per-unit price and input costs</li><li>Competition</li><li>The overall economic climate</li><li>Government regulations</li> </ul> <div id="mntl-sc-block_17-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_18-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> A company with a higher amount of business risk may decide to adopt a <a href="https://www.investopedia.com/terms/c/capitalstructure.asp" class="pseudoStyle" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">capital structure</a> with a lower debt ratio to ensure that it can meet its financial obligations at all times. With a low debt ratio, when <a href="https://www.investopedia.com/terms/r/revenue.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="2">revenues</a> drop, the company may not be able to service its <a href="https://www.investopedia.com/terms/d/debt.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="3">debt</a> (and this may lead to <a href="https://www.investopedia.com/terms/b/bankruptcy.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="4">bankruptcy</a>). On the other hand, when revenues increase, a company with a low debt ratio experiences larger <a href="https://www.investopedia.com/terms/p/profit.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="5">profits</a> and is able to keep up with its obligations. </p> <div id="mntl-sc-block_19-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_20-0" class="comp mntl-sc-block finance-sc-block-callout mntl-block"><div id="mntl-sc-block_21-0" class="comp mntl-sc-block mntl-sc-block-callout mntl-block theme-note" data-tracking-id="mntl-sc-block-callout" data-tracking-container="true"><h3 id="mntl-sc-block-callout-heading_2-0" class="comp mntl-sc-block-callout-heading mntl-text-block no-title"></h3> <div id="mntl-sc-block-callout-body_2-0" class="comp mntl-sc-block-callout-body mntl-text-block"><p>To calculate risk, analysts use four ratios: contribution margin, operation leverage effect, financial leverage effect, and total leverage effect. For more complex calculations, analysts can incorporate statistical methods.</p></div></div></div> <p id="mntl-sc-block_22-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Business risk usually occurs in one of four ways: strategic risk, compliance risk, operational risk, and <a href="https://www.investopedia.com/terms/r/reputational-risk.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">reputational risk</a>.<br> </p> <div id="mntl-sc-block_23-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <span class="heading-toc" id="toc-types-of-business-risk"></span><h2 id="mntl-sc-block_24-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Types of Business Risk </span> </h2> <h3 id="mntl-sc-block_25-0" class="comp mntl-sc-block finance-sc-block-subheading mntl-sc-block-subheading"> <span class="mntl-sc-block-subheading__text"> Strategic Risk </span> </h3> <p id="mntl-sc-block_26-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Strategic risk arises when a business does not operate according to its business model or plan. When a company does not operate according to its business model, its strategy becomes less effective over time, and the company may struggle to reach its defined goals. </p> <div id="mntl-sc-block_27-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_28-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> For example, imagine ABC Store is a big box store that strategically positions itself as a low-cost provider for working-class shoppers. Its main competitor is XYZ Store, which is seen as a destination for more middle-class consumers. However, if XYZ decides to undercut ABC’s prices, this becomes a strategic risk for ABC. </p> <div id="mntl-sc-block_29-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <h3 id="mntl-sc-block_30-0" class="comp mntl-sc-block finance-sc-block-subheading mntl-sc-block-subheading"> <span class="mntl-sc-block-subheading__text"> Compliance Risk </span> </h3> <p id="mntl-sc-block_31-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The second form of business risk is <a href="https://www.investopedia.com/articles/investing/102015/asset-manager-ethics-risk-management-and-compliance.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">compliance</a> risk, sometimes known as regulatory risk. Compliance risk primarily arises in industries and sectors that are highly regulated. For example, in the wine industry, there is a three-tier system of distribution that requires wholesalers in the United States to sell wine to a retailer, which then sells it to consumers. This system prohibits wineries from selling their products directly to retail stores in some states.<span class="ql-inline-citation" data-cite="2"></span> </p> <div id="mntl-sc-block_32-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_33-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> However, many U.S. states do not have this type of distribution system; compliance risk arises when a brand fails to understand the individual requirements of the state in which it is operating. In this situation, a brand risks becoming noncompliant with state-specific distribution laws and may face fines or other legal action.<span class="ql-inline-citation" data-cite="2"></span><span class="ql-inline-citation" data-cite="3"></span> </p> <div id="mntl-sc-block_34-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <h3 id="mntl-sc-block_35-0" class="comp mntl-sc-block finance-sc-block-subheading mntl-sc-block-subheading"> <span class="mntl-sc-block-subheading__text"> Operational Risk </span> </h3> <p id="mntl-sc-block_36-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The third type of business risk is <a href="https://www.investopedia.com/terms/o/operational_risk.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">operational risk</a>. This risk arises from within the corporation, especially when the day-to-day operations of a company fail to perform. </p> <div id="mntl-sc-block_37-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_38-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> For example, in 2012, the multinational bank <a href="https://www.investopedia.com/stock-analysis/2013/investing-news-for-jan-29-hsbcs-money-laundering-scandal-hbc-scbff-ing-cs-rbs0129.aspx" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">HSBC faced a high degree</a> of operational risk and, as a result, incurred a large fine from the U.S. Department of Justice when its internal anti-money laundering (AML) operations team was unable to adequately stop money laundering in Mexico.<span class="ql-inline-citation" data-cite="1"></span> </p> <div id="mntl-sc-block_39-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <h3 id="mntl-sc-block_40-0" class="comp mntl-sc-block finance-sc-block-subheading mntl-sc-block-subheading"> <span class="mntl-sc-block-subheading__text"> Reputational Risk </span> </h3> <p id="mntl-sc-block_41-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Anytime a company’s reputation is ruined, either by an event that was the result of a previous business risk or by a different occurrence, it runs the risk of losing customers and its brand loyalty suffering. The reputation of HSBC faltered in the aftermath of the fine it was levied for poor <a href="https://www.investopedia.com/terms/a/aml.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">anti-money laundering</a> practices. </p> <div id="mntl-sc-block_42-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <span class="heading-toc" id="toc-reducing-business-risk"></span><h2 id="mntl-sc-block_43-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> Reducing Business Risk </span> </h2> <p id="mntl-sc-block_44-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Business risk cannot be entirely avoided because it is unpredictable. However, there are many strategies that businesses employ to cut back the impact of all types of business risk, including strategic, compliance, operational, and reputational risk. </p> <div id="mntl-sc-block_45-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_46-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> The first step that brands typically take is to identify all sources of risk in their <a href="https://www.investopedia.com/articles/pf/08/planning-for-business.asp" class="pseudoStyle" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">business plan</a>. These aren’t just external risks—they may also come from within the business itself. Taking action to cut back the risks as soon as they present themselves is key. Management should come up with a plan to deal with any identifiable risks before they become too great. </p> <div id="mntl-sc-block_47-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_48-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Finally, most companies adopt a <a href="https://www.investopedia.com/articles/personal-finance/072315/top-ways-manage-business-risks.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">risk management strategy</a>. This can be done either before the business begins operations or after it experiences a setback. Ideally, a risk management strategy will help the company be better prepared to deal with risks as they present themselves. The plan should have tested ideas and procedures in place in case risk presents itself. </p> <div id="mntl-sc-block_49-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_50-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> Once the management of a company has come up with a plan to deal with the risk, it’s important that they take the extra step of documenting everything in case the same situation arises again. After all, business risk isn’t static—it tends to repeat itself during the business cycle. By recording what led to risk the first time, as well as the processes used to mitigate it, the business can implement those strategies a second time with greater ease. This reduces the time frame in which unaddressed risk can impact the business, as well as lowering the cost of risk management. </p> <div id="mntl-sc-block_51-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_52-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-what-are-the-4-main-types-of-business-risk"></span> <h2 class="mntl-sc-block-questionandanswer__question">What Are the 4 Main Types of Business Risk?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>The four main types of risk that businesses encounter are strategic, compliance (regulatory), operational, and reputational risk. These risks can be caused by factors that are both external and internal to the company.</p></div> </div> <div id="mntl-sc-block_53-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_54-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-why-is-risk-management-important-in-business"></span> <h2 class="mntl-sc-block-questionandanswer__question">Why Is Risk Management Important in Business?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>Businesses face a great deal of uncertainty in their operations, much of it outside their control. This uncertainty creates risk that can jeopardize a company’s short-term profits and long-term existence. Because risk is unavoidable, risk management is an important part of running a business. When a business has a thorough and carefully created risk management plan in place, and when it is able to iterate on that plan to deal with new and unexpected risks, the business is more likely to survive the impact of both internal and external risk.</p></div> </div> <div id="mntl-sc-block_55-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <div id="mntl-sc-block_56-0" class="comp mntl-sc-block finance-sc-block-questionandanswer mntl-sc-block-questionandanswer"><span class="heading-toc" id="toc-what-are-internal-risks-that-can-impact-a-business"></span> <h2 class="mntl-sc-block-questionandanswer__question">What Are Internal Risks That Can Impact a Business?</h2> <div class="mntl-sc-block-questionandanswer__answer"><p>Internal risks that can impact a business often come from decisions made by the management or executive team in pursuit of growth. These decisions can create physical or tangible risks. For example, on-site risks such as fires, equipment malfunctions, or hazardous materials can jeopardize production, endanger employees, and lead to legal or financial penalties. Policies that guarantee a safe working environment would, in this instance, be an effective strategy for managing internal risks.</p></div> </div> <div id="mntl-sc-block_57-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <span class="heading-toc" id="toc-the-bottom-line"></span><h2 id="mntl-sc-block_58-0" class="comp mntl-sc-block finance-sc-block-heading mntl-sc-block-heading"> <span class="mntl-sc-block-heading__text"> The Bottom Line </span> </h2> <p id="mntl-sc-block_59-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> In business, risks are factors that an organization encounters that may lower its profits or cause it to fail. Sources of risk can be external, such as changes in what consumers want, changes in competitor behavior, external economic factors, and government rules or regulations. They can also be internal, such as decisions made by management or the executive team. </p> <div id="mntl-sc-block_60-0" class="comp mntl-sc-block mntl-sc-block-adslot mntl-block"></div> <p id="mntl-sc-block_61-0" class="comp mntl-sc-block finance-sc-block-html mntl-sc-block-html"> No company can completely avoid risks, especially because many risk factors are external. However, businesses can put risk management strategies into place. These strategies can be used to reduce risk and to mitigate the impact of risks when they arise. By <a href="https://www.investopedia.com/ask/answers/041415/whats-difference-between-ear-value-risk-var-and-eve.asp" data-component="link" data-source="inlineLink" data-type="internalLink" data-ordinal="1">documenting the sources of risk</a> and creating a strategic plan that can be repeated, businesses can reduce the overall impact of risk and deal with it more efficiently and effectively in the future. </p></div> <div id="textnote-placeholder_1-0" class="comp textnote-placeholder mntl-block"></div> <div id="textnote_1-0" class="comp textnote mm-ads-gpt-adunit gpt textnote "> <div id="textnote" class="wrapper" ></div> </div></div> </div><div class="loc article-post-content"><div id="article-sources_1-0" class="comp article-sources mntl-article-sources mntl-expandable-block" data-scroll-offset="100"><div class="loc toggle-content"><div id="mntl-article-sources__wrapper_1-0" class="comp mntl-article-sources__wrapper mntl-block article-sources__wrapper" data-click-tracked="true"><div id="mntl-article-sources__heading_1-0" class="comp mntl-article-sources__heading mntl-text-block article-sources__heading">Article Sources</div> <div id="mntl-article-sources__icon-wrapper_1-0" class="comp mntl-article-sources__icon-wrapper mntl-block article-sources__icon-wrapper"><div id="article-sources__show-icon_1-0" class="comp article-sources__show-icon mntl-block"></div> <div id="article-sources__hide-icon_1-0" class="comp article-sources__hide-icon mntl-block"></div></div></div> </div><div class="loc expandable-content"> <div id="article-sources__disclaimer_1-0" class="comp article-sources__disclaimer mntl-block">Investopedia requires writers to use primary sources to support their work. 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