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Economic risks

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Risk assessment
Types of Risk
Effects
Risk level
1-High
2-
Medium
3-Low
Mitigation
Economic Risk
As prices change, the
economy is
continuously shifting.
Positive
developments are
beneficial to the
economy and lead to
increased purchases,
but unfavourable
occurrences might
diminish sales. It's
critical to keep an eye
on developments and
patterns in order to
spot and prepare for
the economic loss.
In order to avoid economic risk,
Tesco needs to save more money
and maintain a consistent cash
flow. The organisational plan
must maintain tight finance with
minimal latency during all
economic phases.

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Compliance Risk
Business owners are
subject to a plethora
of rules and
regulations that they
need to follow.
Current data security
and transaction
processing
regulations, for
example, may have an
influence on the
methods of
managing certain
areas of the business
(Boitnott, 2021).
Noncompliance can
lead to substantial
fines and
punishments.
Maintaining a thorough
understanding of applicable
regulations from federal
authorities, including OSHA
(Occupational Safety and Health
Administration) and EPA
(Environmental protection
Agency), and the state and
municipal agencies will be able to
assist in reducing compliance risk.
In order to maintain proper
compliance within the working
space, Tesco needs to join the
industrial groups, check
government agencies and obtain
help from the compliance
specialist.
Security and Fraud
Risk
There is increasing
potential for
espionage as more
clients utilise the
The organisation needs to focus on
the solutions of the security,
depend on the tools that help to
detect frauds and the employees as

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Risk assessment Types of Risk Effects Risk level Mitigation 1-High 2Medium 3-Low Economic Risk As prices change, the In order to avoid economic risk, economy is Tesco needs to save more money continuously shifting. and maintain a consistent cash Positive flow. The organisational plan developments are must maintain tight finance with beneficial the minimal to economy and lead to increased purchases, but unfavourable occurrences might diminish sales. It's critical to keep an eye on developments and patterns in order to spot and prepare for the economic loss. latency economic phases. during all Compliance Risk Business owners are Maintaining a thorough subject to a plethora understanding of applicable of and regulations from federal regulations that they authorities, including OSHA need (Occupational Safety and Health rules to follow. Current data security Administration) and (Environmental transaction processing Agency), regulations, and and EPA protection the state and for municipal agencies will be able to example, may have an assist in reducing compliance risk. influence the In order to maintain proper of c ...
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