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RISK ANALYSIS,A U.S. fishing boat manufacturer is known throughout the United States for its innovative approach to product design, lean manufacturing, and responsive customer service since its start three years ago. The mission statement of the company i$9.49
RISK ANALYSIS,A U.S. fishing boat manufacturer is known throughout the United States for its innovative approach to product design, lean manufacturing, and responsive customer service since its start three years ago. The mission statement of the company i
RISK ANALYSIS,A U.S. fishing boat manufacturer is known throughout the United States for its innovative approach to product design, lean manufacturing, and responsive customer service since its start three years ago. The mission statement of the company is “We will provide the most innovative cus...
Task 2: Innovative and Strategic Thinking Course Code: D081
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Program Mentor Name: A. Discuss at least TWO potential risks that the company from the scenario may encounter in entering the new market and describe the impact on the company. (Unit 3: Managing Risks.) According to Klemm at el. (2021), t he inconsistent flow of recycled materials used to make foldable boats can pose an economic risk in this scenario. In addition, commodity prices in
India can be affected by unexpected fluctuations. As a result, the costs of hiring and paying employees, establishing manufacturing facilities in India, and meeting demand are significantly higher. All of these variables affect short-term and long-term profitability. Secondly, the legal risk for US-based corporations is that they depend considerably on favourable Indian market conditions for growth and prosperity. Foreign governments change or amend laws that directly impact foreign businesses and investors on occasion, such as tax differences, as well as the uncertainty of some clarifications of such rules, create legal risk and financial losses. B1. Conduct a SWOT analysis of the company in the scenario by identifying and explaining at least two internal strengths. The identification of each strength requires more than just listing each element. Consider a sentence or two that relates the strength to the given scenario. The ability to innovate is the company's major competitive advantage. When the company was founded, a culture of creativity was established at every project level inside and beyond the organization, creativity comes from all directions. According to the scenario, however, company-wide communication is actively encouraged at all levels and routinely shares thoughts and ideas.
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