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Strategic risks
These affect your firm’s ability to reach the goals in the business plan. They could be
due to the impacts of changes in technological evolutions or customer demand.
These factors could pose as threats as they can alter how customers perceive your
product. Based on these, customers might think a product is overpriced, dull and
outdated.
Innovation
Your business needs innovation in order to keep up with competitors. It is essential
to get one step ahead. Innovation could come in the form of marketing. It could also
be through promotional initiatives in the marketing plan, staff training, and welfare.
Embracing new technology is the best way to keep up with technological
advancements.
Q: 1(ii)
Q: 1(iv)
Privatization is the process of transferring an enterprise or industry from the public sectorto
the private sector.
The public sector is the part of the economic system that is run by government
agencies. Privatization may involve either sale of government-held assets or removal of
restrictions preventing private individuals and businesses from participating in a given
industry.
Q: 1(v)
In economics and political science, fiscal policy is the use of governmentrevenue collection
(mainly taxes) and expenditure (spending) to influence the economy.[1] According to Keynesian
economics, when the government changes the levels of taxation and governments spending, it
influencesaggregate demand and the level of economic activity. Fiscal policy can be used to
stabilize the economy over the course of the business cycle
Q: 4
Trading globally gives consumers and countries the opportunity to be exposed to new markets
and products. Almost every kind of product can be found on the international market: food,
clothes, spare parts, oil, jewelry, wine, stocks, currencies and water. Services are also traded:
tourism, banking, consulting and transportation
Q: 3
Definition
Monetary policy consists of the decisions made by a government concerning the money supply and
interest rates. In the United States, the Federal Reserve (the Fed) determines and implements
monetary policy..