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The role of risk in setting goals in difficult times
White Paper by Vecker Institute
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May 2009 |
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Abstract
When businesses set goals and strategies, they take a number of factors into consideration, including opportunities, resources, and the marketplace. Businesses also look at and address both internal and external risks that may affect or interfere with strategy execution. The internal risks relate to the availability of personnel and resources, the ability of the business to develop and distribute its products and services, and the sufficiency of the business’s finances. The external risks relate to competitive pressures, factors in the business’s industry and the economy, and governmental regulation and requirements...