Question 1: Ali Salim retired from the Kenyan Civil Service in 2021 and was paid his retirement benefits last month. He is contemplating to settle at Kawangware area and start a whole sale shop there in the next few months. He is considering to employ other three people to assist him in his business activities. His wife, Fatuma will also be available occasionally to assist him.
a) Discuss the various types of risk Ali is exposed to.
b) Assess risk coping methods at Ali's disposal.
c) Suggest to Ali business risk management strategies to adopt.
Question 2:
a) Daystar University is preparing for annual graduation ceremony. The event will be held on the Main Campus premises, Athi River. More than 10,000 people are expected to attend. You have been appointed as the chairperson of the committee planning the event. The committee has been meeting fortnightly as from June 2023. Discuss the items you would include in your site inspection checklist regarding emergency preparedness.
b) The possibility of adverse liability judgment is a significant exposure with significant defense costs. Assess 5 examples of liability exposures which can lead to organizational losses.