What strategy does the company use to manage the risk

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Reference no: EM133595906

Provide a Social Sharing Economy Business but be aware of the Risk and Liabilities!!!!

The Social Sharing Economy is growing quickly, and new business ideas are regularly being created worldwide. As a group, you are working together to make new social sharing business of your choice for the Hospitality/Tourism industry. (Similar in concept to Airbnb, Uber, WeWork, etc)

To do this successfully, you will need to complete the following:

1. Introduction:

• a name for the business: Wanderlust. Select something different and unique. (Wanderlust that is a social sharing economy business that provides travelers with a unique and affordable way to experience the world. We connect travelers with locals who are willing to share their homes and experiences for a fee. Our platform offers a wide range of accommodation options, from private rooms in apartments to entire homes and villas.)

• Design a logo for the business

• Tell me as much as you can about that business

• Who are your competitors? Why is that business different?

2. make Risk Management plan by identifying 5 major risks that need to be managed daily with this new business. For each risk answer the following questions:

• Why is this a risk?

• What type of risk is it?

• What is the likelihood of the risk happening?

• What strategy does the company use to manage the risk?

3. Outline the legal requirements that need to be considered when running a business of this type.

4. State this business's positive and negative impacts on society, including your business's Corporate Social Responsibilities.

5. consider and include all licensing requirements and any compliance requirements for your business and what your policies/procedures will do to prevent liability.

Reference no: EM133595906

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