Risk Assessment and Strategies for Growth

C&H Spa and More

Professor Maryann Wangemann

BUS 521: Entrepreneurship & Innovation

June 10, 2012

Identify and evaluate the main sources of risk for your business.

In the preparation of the business plan for C&H Spa and More, one needs to identify and evaluate the main sources of risk for the new venture. Risk assessment is a method of identifying what could go wrong in the business, which risks should be acted upon and implementing strategies to manage the risks. After identifying the risks, the business will be in a better position and have a cost-effective plan in place to deal with them. The four main categories of risk to evaluate are strategic, compliance, financial, and operational (Managing Risks, 2012).

Strategic risks are those that...