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Business Risk Responses

Cartoons Online - Risk Response Principles


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Are you looking for a cartoon on the subject of different business risk responses? (Note: risk responses include options like reduction/mitigation, avoidance, change of a business activity, sharing/transferring or acceptance.)

BUY our educational business images and cartoons online from as little as $17.97! Remember, you may use our business pictures and images without any limitation on the number of occasions!

The following cartoons on the subject of business risk responses are available:

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Transfer/Sharing Business Risk Cartoon

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RRM1

Transferring or sharing of business risks cartoon
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Transfer/sharing business risk...

“Risk sharing/transferring is one of the risk response options. It is an option when:

  • It is better that a third party carries certain risks, especially concerning external threats to your business over which you do NOT have a lot of influence (e.g. to have natural disaster risk insurance).
  • The business activity is necessary, but a third party can perform it better.
  • A threat’s possibility of occurrence and consequential negative financial impact is high.
  • The cost of risk sharing/transferring is still lower than the consequential negative financial impact of a threat.” - Michiel Jonker

Message: This cartoon illustrates a business that transfers/shares some of its business risks to or with an insurance firm.

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Type: JPG

Real File: 78.4 KB (806 x 520)

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Reduce Risk Impact Cartoon

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RRM2

Reduce risk impact cartoon
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Reduce risk impact...

“The most popular risk response is reduction. You can reduce/minimize a threat’s possibility of occurrence or potential impact. Risk reduction is an option when:

  • You need to perform a business activity in order to generate profits, even though it poses a risk to your business.
  • A threat’s possibility of occurrence and consequential negative financial impact is high.
  • The cost of the control is lower than the consequential negative financial impact of a threat.” - Michiel Jonker

Message: It would be better to counteract the impact of business threats that have a low possibility of occurrence, but high impact potential. While you do not always have influence over the occurrence of threats, you could counteract the impact of threats. It is impossible, for example, to prevent an earthquake! An earthquake has a low possibility of occurrence in some parts of the world, yet it does have a high impact. Therefore, it would make sense to plan for its impact on your business.

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Real File: 94.2 KB (810 x 528)

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Price: $24.97

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