Final answer:
Business risk includes factors that lead to lower profits or losses, such as new technologies that affect competitive advantage. It can be mitigated by management, not as described in option (D). Correct answer: (C).
Step-by-step explanation:
The term business risk refers to the possibility that a company will have lower than anticipated profits or experience a loss rather than making a profit. This risk comes from a variety of factors and conditions in the business environment. One of the options provided in the question, option (C), correctly defines business risk as it can include a new technology which threatens to erode a company's competitive advantage. Technologies that may suddenly render a company's products or services obsolete can present significant business risks. This is part of a larger landscape of risks that businesses must navigate, which also includes the risk of poor management, unproductive workers, or shifting conditions in market demand and supply, all of which could lead to a business failing. However, contrary to option (D), business risks can be mitigated by management through strategic planning and decision making.