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Components:
Market Risk: Potential changes in customer demand or market trends; mitigation: market research, diversification.
Operational Risk: Risks in day-to-day operations; mitigation: standard operating procedures, automation.
Financial Risk: Funding shortfalls, cash flow issues; mitigation: budgeting, reserve funds, alternative funding.
Competitive Risk: New competitors or substitutes; mitigation: continuous innovation, IP protection.
Regulatory Risk: Legal or compliance issues; mitigation: legal advice, compliance audits.
Technology Risk: System failures or cyber threats; mitigation: security measures, backup systems.