Question

Imagine that you want to open a doggy-daycare business. Give an example of a human risk, a natural risk, and an economic risk associated with opening the business.​

Answer 1

Human risks are anything a person could do to make you lose money or do poorly like cancelling appointments last minute and leaving negative online reviews.

Natural risks are forces of nature that could cause problems such as if a storm floods the doggy day care.

Economic risks are changes in the economy, so if there is a recession more people will stop wanting to pay for doggy daycare to save their money.

Answer 2

The answer is below

Step-by-step explanation:

1. Human Risk: In a doggy day-care environment, there is always a potential human risk to the dog owners and visitors, where by zoonotic diseases can be spread from dogs to dog owners or other people working on visiting the doggy care environment.

Also, there is a potential risk of dog bites between humans and dogs when .

2. Natural risk: in a doggy care environment, there is also potential natural risk, such as fire outbreak, thunder storm, flooding, amongst others, which can affect the area in which the doggy care is located.

However, this can be reduced by making doggy daycare on a hill and having insurance.

3. Economic risk: in a doggy care business, just like any other business, there is potential economic risk, such as government policy regulations, and unfavourable location, amongst others, all which may lead to losing the money invested in the business