Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Question
Chapter C, Problem 4CT
Summary Introduction
To think critically about: The ways to be safe from the personal risks that arise due to natural disasters like floods, hurricanes and tornadoes.
Introduction:
Personal risk refers to the risk of loss in life and other assets of an individual and families due to natural disasters in the economy such as floods, hurricanes and tornadoes.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Give a proposition on how individuals and businesses can manage risk better and be prepared for any eventuality, including a pandemic.
Why is it important to know the different types of risk when operating or running a business?
What sacrifices must a business make to reduce risk?
Chapter C Solutions
Understanding Business
Ch. C.1 - Prob. C.1AQCh. C.2 - Prob. C.2AQCh. C.2 - Why are companies more aware now of the need to...Ch. C.2 - Prob. 2TPCh. C.2 - What are the four major options for handling risk?Ch. C.2 - Prob. 4TPCh. C.3 - Prob. 5TPCh. C.3 - What is the rule of indemnity?Ch. C.4 - Prob. C.4AQCh. C.4 - Prob. 7TP
Ch. C.4 - Prob. 8TPCh. C - If you are interested in pursuing a career in risk...Ch. C - Prob. 2CECh. C - Prob. 3CECh. C - 1. Are you self-insuring your residence and your...Ch. C - Prob. 2CTCh. C - Prob. 3CTCh. C - Prob. 4CTCh. C - 1. List the ways you could reduce risk in your...Ch. C - Prob. 2DCSCh. C - 3. Much of risk management consists of reducing...Ch. C - Prob. 4DCSCh. C - Write a two-page essay on the risks of a terrorist...Ch. C - Prob. 1PPTCh. C - Prob. 2PPTCh. C - Prob. 3PPTCh. C - Prob. 4PPT
Knowledge Booster
Similar questions
- If you want to purchase health insurance for yourself in the near future, what type of plan would you choose, and why? What steps can you take to keep your health costs down?arrow_forwardExplain how risk can be minimized for business?arrow_forwardDo you believe that the number of risks and severity of losses increases over time?arrow_forward
- Is there a risk if business owner is prepared to take any income generating opportunity irrespective of the potential losses.arrow_forwardWhat is risk and provide an example of it.arrow_forwardIn this section, we will discuss in depth the most essential areas of concern about risk management. To what extent does the management of risks factor into the development of a company's long-term strategy?arrow_forward
- Case scenario The GID Insurance Company is a mid-sized company that was established in 1990 and has been in business for over 30 years. You are members of the senior management team at GID Insurance Company. One of your smaller competitors, Full Coverage Insurance Company has been hit hard due to many claims from the several hurricanes in the region in recent years. In addition, they have also made some bad investments and is in serious financial trouble. The CEO (your boss) of GID Insurance Company has called a meeting to announce plans to acquire the struggling Full Coverage Insurance Company and the integration of the business. He has asked you to develop the internal proposal that will outline a plan for integrating the Full Coverage Insurance Company into GID’s current organizational model. Your job as the senior management team, is to prepare an organizational model to create a smooth merger of the two companies. You are required to develop a proposal (for internal use only),…arrow_forwardIn Management, what are the most common responses to risk? ASAParrow_forwardThe health and mortality implications of the recent coronavirus pandemic has propelled many people to think critically about having proper health insurance, retirement and estate plans. Describe the three common structures of pension plans, eligibility and qualifications for retirement.arrow_forward
- How can these four types of risk: financial, operational, market and hazard manifest itself in a business and how do you propose to deal with that.arrow_forwardIn the event of a national emergency, what supplementary options are available to the Department of Homeland Security to ensure public confidence?arrow_forwardHow do organizations account for and manage "unknown unknowns" or unforeseen risks in their risk management strategies?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Understanding BusinessManagementISBN:9781259929434Author:William NickelsPublisher:McGraw-Hill EducationManagement (14th Edition)ManagementISBN:9780134527604Author:Stephen P. Robbins, Mary A. CoulterPublisher:PEARSONSpreadsheet Modeling & Decision Analysis: A Pract...ManagementISBN:9781305947412Author:Cliff RagsdalePublisher:Cengage Learning
- Management Information Systems: Managing The Digi...ManagementISBN:9780135191798Author:Kenneth C. Laudon, Jane P. LaudonPublisher:PEARSONBusiness Essentials (12th Edition) (What's New in...ManagementISBN:9780134728391Author:Ronald J. Ebert, Ricky W. GriffinPublisher:PEARSONFundamentals of Management (10th Edition)ManagementISBN:9780134237473Author:Stephen P. Robbins, Mary A. Coulter, David A. De CenzoPublisher:PEARSON
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON