Раскрытые топики к ГОСу по Английскому / topic+9

TOPIC 9. “Types of personal security risks. Types of risks in business”.

Risks are the elements of our common life. We can’t imagine our modern world without the thought of any risks. New technologies, machines, the differences in the society, etc. create a dangerous surrounding.

There are several types kinds of risks, they are:

• Personal security risk;

• Political risk;

• Reputational risk;

• Financial risk;

• Business risk;

• Etc.

Personal security risks are kidnapping, terrorism, petty-crime, killing, robbery. These are risks, which can make harm directly to person.

Political risks are international sanctions, currency devolvation, corruption.

Reputational risks are direct actions by pressure groups, consumer activities, etc.

Financial risks are organized crime, fraud, and extortion (вымогательство).

But for our subject it’s necessary to pay more attention to business risks. Risk is all about threats and opportunities and one of the biggest problems that companies face is the quality and the timing of the information that is available on the risk.

Risks can be four types:

• The risk of simply doing nothing;

• Credit or guarantee risk;

• Political risk;

• Catastrophe or other disruption happening to a business.

Let see them in detail…

The risk of doing nothing – this could be a company that tries to preserve the exact position that’s always served it well in the past, and here the risk is the company will end up with an obsolete product in the obsolete market and will end up going out of business. Such kind of companies have to reviewing their price, marketing position constantly and they also invest a lot of money into investing and protecting their brand. So the message here is never do nothing!

Credit or guarantee risk – relates to companies that give credit or take and rely on guarantees from others, that causes a reduction of profits if they go wrong.

Unfortunately sometimes the customer doesn’t repay you. They may have gone of business or simply they may have ‘gone away’. This can make a problem for company, of course.

On the guarantee side of things, a company relying on the guarantee of a person or another company to do something. But, quite often guarantee as good as the person giving that guarantee.

Political risk – a company has to be always aware of the political agenda. It needs to know what’s on the government’s current agenda. Is that likely to change, and if so, how will that affect any company – very important thing to know.

Catastrophe or other disruption – in this case company can be caught up in some sort of catastrophe or other disruption, such as fraud or criminal damage, that causes interruption to trading. And it’s necessary to have people who can cope with that sort of risk.