vocabulary
the duty of a business to contribute to the well being of community
social responsibility
a natural resource that cant be replaced when used up
non-renewable resource
relates to harm or injury to other people or their property because of your actions
liability risk
trusting in one's abilities, qualities, and judgment
Self-confident
a stock of a resource from which a person or place can be provided with the necessary amount of that resource
supply
principals of morality or rules of conduct
ethics
states the condition to which the insurance company and the policy holder have agreed
insurance policy
risks that you can control or do something about
controllable risk
the action of taking risks.
risk taking
an insistent and peremptory request, made as if by right.
demand
willing or likely to take practical action to deal with a problem or situation
action oriented
the person or company buying the insurance policy *
insurer
risk of losing something of value
personal risk
offering no physical or emotional rest; involving constant activity or motion.
restless
the price of a commodity when sold in a given market.
market price
an invention or creation that is brand new
innovation
characteristics of a small business
-Lower Revenue and Profitability. ...
Smaller Teams of Employees. ...
Small Market Area. ...
Sole or Partnership Ownership and Taxes. ...
Limited Area of Fewer Locations.
-the risk faced by a business organizationthe risk faced by a business organization
economic risk
having or showing intense and eager enjoyment, interest, or approval.
Enthusiastic
-a person who purchases goods and services for personal use.
consumer
he amount the policyholder must pay for insurance coverage
premium
money provided by large investors to finance new products and new businesses that have a good chance to be very profitable
venture capital
identify potential workplace hazards on campus.
Workplace hazards that are on campus are the stairs, some cords, in science when you have to work with dangerous chemicals
Identify types of risks facing businesses.(there's 4).
Operational risk, reputation risk, competition risk, financial risk
the process used to measure the benefits of a decision or taking action minus the costs associated with taking that action
Cost/benefit analysis-