Risks in business can be broadly categorized into several types:
Financial Risk: Concerns about monetary losses due to market fluctuations, credit risks, or investment failures. Operational Risk: Risks arising from internal processes, systems, or human errors that can disrupt operations. Strategic Risk: Risks resulting from erroneous business decisions or the failure to respond to market changes. Compliance Risk: Risks associated with violations of laws, regulations, or internal policies. Reputational Risk: Risks that can damage a company’s reputation and brand value.