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Business Start-Up (A304ENU) SESSION 6: Technical developments and Risk assessment

Business Start-Up (A304ENU) SESSION 6: Technical developments and Risk assessment. TOPICS COVERED Participants will produce a formal business plan that will include a component of each of the following: Week 1: Introduction Week 2: Entrepreneurship Week 3: Idea development

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Business Start-Up (A304ENU) SESSION 6: Technical developments and Risk assessment

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  1. Business Start-Up (A304ENU) SESSION 6: Technical developments and Risk assessment

  2. TOPICS COVERED Participants will produce a formal business plan that will include a component of each of the following: Week 1: Introduction Week 2: Entrepreneurship Week 3: Idea development Week 4: Marketing Week 5: Competitors and Organisational and legal structure Week 6: Technical developments and Risk assessment Week 7: Finance Week 8: Integrating and control Week 9: Guest speakers Week 10: Summary

  3. CONTACT DETAILS SURGERY HOURS On Request

  4. Mind stretchers • Can risk be eliminated in a business? • What can help you to manage risk better in a business?

  5. Technical considerations • Specific design of product • Safety issues • Product/service development and testing • Location • Support

  6. Risk categories • Strategic • Compliance • Financial • Operational

  7. Other risks • Environmental risks • Employee risk management • Political and economic instability • Health and safety

  8. Risks planning • Identify the crises that could affect your business • Assess the possible impact of risks on your business • Plan how you'll deal with an emergency • Test your business continuity plan

  9. Insuring your risk • Insurance to protect against losses associated with some risks • Employers' liability cover - required by law • Products liability insurance • Key man insurance • Group life assurance

  10. Exercise • Identify the risks involved in your business idea and how you will manage it. • Identify a case where a business did/did not manage the risks associated with their business correctly.

  11. ANY QUESTIONS?

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