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What is an example of compliance and an example of failure of compliance in a fish-selling business that openly values honesty?
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What does the term 'compliance risk' mean?
'Compliance risk' means the risk of material financial loss, legal liability, or loss of reputation to a business as a result of its failure to comply with the law.
Give an example of a business problem?
An example of a business problem is failure to meet the target set. This would mean that the business would operate at a loss as it is not able to raise enough revenue to cover the overheads.
Business failure due to bad management?
Blockbuster is an example of a business failing due to bad management. When the industry changed, the manager didn't adapt.
Are Entrepreneurs are noted for their ability to bounce back after a business failure?
Entrepreneurs are noted for their ability to bounce back after a business failure.
What is a disadvantage of owning a business?
the disadvantage you are responsible for the failure of the business
Can the police come to your house on a bench warrant for a failure to appear at a compliance hearing for a misdemeanor?
Will the police come to your house on a bench warrant for a failure to appear at cost and fines hearing
What is meant by business failure?
The meaning of business failure is when a business is unable to keep trading, either due to not making enough money to cover expenses or doesn't have the cash flow necessary to meet obligations. Other reasons for business failure are recessions, war or excessive regulations.
To achieve your business requirements you should have service level agreements with your service providers What characteristics should these SLAs have?
They should be easily understood Responsibilities should be easily measured Compliance failure must have associated penalties They should be capable of evolving over time
A drawback of entrepreneurship is the?
risk of business failure.
What is the shortest path to failure in a small business?
undercapitalization
Who will lose the most in the event of a business failure?
Entrepreneur
What is the failure rate of fitness business?
98%
