Risk Audit For dance Studio Dance Studio Owner Dancers Instuctors Here are the directions for each column 1) What is the Risk This is where you describe what can happen (For Example We could get hit with a storm that will flood my location )Be very detailed 2) What type of risk The type of risk means, where is this risk coming from (For Example, the flood risk mentioned above is a Natural Disaster )Here is a list of types of Risks YOU MUST INCLUDE AT LEAST ONE OF EACH Market Demand for your product or service Over or under Competition Labor Issues Government Legislature Vendors Suppliers Distributors Industry Economic Conditions Cash Capital Money 3) On a scale from 1 to 10, with 10 being Extremely Likely, how likely is it that this will happen 4) On a scale from 1 to 10, with 10 being the WORST, if this scenario were to happen, how hard will it hurt your company Describe the areas that would be affected 5) What is your plan to mitigate this risk What is your plan to lower the scores in questions 3 and 4 Include the insurance that you will need 6) Who, besides you, will need to help mitigate this risk

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 05, 2024

Risk Audit For dance Studio/Dance Studio Owner/Dancers/Instuctors Here are the directions for each column: 1) What is the Risk? This is where you describe what

Risk Audit For dance Studio/Dance Studio Owner/Dancers/Instuctors

Here are the directions for each column:

1)What is the Risk?This is where you describe what can happen.(For Example:We could get hit with a storm that will flood my location.)Be very detailed.

2)What type of risk?The type of risk means, where is this risk coming from?(For Example, the flood risk mentioned above is a Natural Disaster.)Here is a list of types of Risks.YOU MUST INCLUDE AT LEAST ONE OF EACH:

Market Demand for your product or service?Over or under?
Competition
Labor Issues
Government/Legislature
Vendors/Suppliers
Distributors
Industry/Economic Conditions
Cash/Capital/Money

3)On a scale from 1 to 10, with 10 being Extremely Likely, how likely is it that this will happen?

4)On a scale from 1 to 10, with 10 being the WORST, if this scenario were to happen, how hard will it hurt your company?Describe the areas that would be affected.

5)What is your plan to mitigate this risk?What is your plan to lower the scores in questions 3 and 4?Include the insurance that you will need.

6)Who, besides you, will need to help mitigate this risk?