(10)What are the types of Business Risks?

Answer: Types of Risk faced by the business units are as follow:

(1)Strategic Risk: Risk that prevents organization to achieve its strategic objectives.

(2)Financial Risk: Risk that have impact of financial losses i.e. loss of assets.

(3)Operational Risk: Risk that disrupts the efficient and effective operations of the organization.

(4)Regulatory/Compliance Risk: Risk that amount to non-compliance with laws and regulation and results into fines and penalties.

(5)Reputational Risk: Risk that have impact of negative publicity of the organization.