BSBMGT616.docx - Assessment Task 1 1 Give three examples of...

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Assessment Task 1 1. Give three examples of risks that should be taken into account in developing and implementing strategic plans.
Competitive Factors
2. Give two examples of risk management strategies that can be used when developing and implementing strategic plans.
Risk Mitigation Businesses can also choose to achieve risk through mitigation or reduction. Mitigating business risk is meant to lessen any negative moment or impact of specific, known risks, and is most often used when business risks are obligatory. 3. Give an example of a risk management strategy that can be used to manage intellectual property risks inherent in strategic planning.
4. Outline the benefit of conducting a SWOT analysis as part of a strategic planning process and how a SWOT analysis is conducted.

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