3
Managing risk
The biggest risk is not taking any risk ⦠In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.
Mark Zuckerberg
Risk is all around you. As in your personal life, so too with business. The trick is to understand it and contain it.
Each aspect of strategy development is subject to risk:
- Market demand takes a dip, wholly beyond your control.
- A competitor steamrollers into your market, regardless of the short-term cost.
- A key customer is acquired and you are ditched as a supplier.
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