Risk Management

The risk management is a subject to risks and uncertainties, some of which cannot be predicted or quantified, like the effect of government regulation, competition and other material risks. The research done by the employees asking couple simple questions at the counter or on line (in case of buying the coffee or placing the order on line) tells companies how to understand and manage consumer risk. Understanding what consumers want will minimize product development risk. Understanding how many of these products consumers will buy, minimizes production risk. Knowing how much they will pay for your product will minimize financial risk. Additionally understanding the consumers, as people will help you minimize marketing risk.