What Are the Challenges in Managing Environmental Risks?
Managing environmental risks comes with its own set of challenges:
Unpredictability: Many environmental risks, such as natural disasters and economic downturns, are difficult to predict and can occur suddenly. Resource Allocation: Allocating sufficient resources to risk management activities without detracting from core business operations can be challenging. Knowledge and Expertise: Having the necessary knowledge and expertise to accurately assess and manage environmental risks can be a limitation for many entrepreneurs. Cost: Implementing risk mitigation strategies can be costly, especially for startups with limited financial resources.