What Strategies Can Mitigate Market Vulnerability?
Several strategies can help mitigate market vulnerability: - Diversification: Diversifying products, services, and markets can reduce dependency on a single revenue stream. - Innovation: Continuously innovating can help a business stay ahead of technological changes and competitive pressures. - Financial Planning: Effective financial planning, including maintaining reserves, can help weather economic downturns. - Supply Chain Management: Establishing relationships with multiple suppliers can reduce the risk of supply chain disruptions.