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Company Risk Prevention Plan Essay

261 words - 2 pages

Company Risk Prevention Plan
Name
Institutional Affiliation

Introduction
The overall thriving and success of a firm is partly reliant on its ability to forecast potential legal implications which may strangle its progress. The best shortcut of such disruption often results from potential crevices where malicious individuals, the state or other firms take advantage of and turn the knob to their advantage when least ...view middle of the document...

This risk management plan is vital in cutting down implications which accrue from such predicaments and aiding in quick business recover in case such predicaments occur. Part of some those potential risks include the production of counterfeit fraud products by other masquerading companies which could be imitating Advanced Technology products. In addition, Advanced Technology employees may face fatal mechanical injuries. As a result, citizens who often might have utilised the fraud products or those who may have faced injuries within the proximities of the firm may head to court to seek compensation for the harms or effects accrued. In such a predicament, Advanced Technology has the mandate to use the rules of law to cut down or eliminate such litigation risks. Part of the risk management involves having firm insurance agencies which can readily compensate parties.

REFERENCES
Spedding, L. S., & Rose, A. (2008). Business risk management handbook: A sustainable approach. Oxford: CIMA.
Sadgrove, K. (2005). The complete guide to business risk management. Aldershot, Hants, England: Ashgate Pub.

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