Task 6(150-word essay) As a CEO of a business firm,how will you strengthen your business operations when you are faced with the previously identified contemporary economic issues?
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The stronger your business is, the less likely it is to be affected by risks – if they do eventuate – or unforeseen events. Strengthening your business doesn't just involve financial management. It also includes strategies to retain and broaden your customer base, market your business affordably, keep morale high amongst your staff and improve business practices. You should also look for opportunities to network and form alliances; this will help minimise your exposure to risks.
To strengthen your business during an economic downturn you should consider the following strategies.
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