BSB61015 - Develop and Implement Strategic Plans - Management Assignment Help

Assignment Task

Answer Questions Instruction 

You are required to answer all of the following questions. You need to answer all of the written questions correctly. Generally, you are expected to write a response one or two paragraphs long. Please answer the questions using word processing software.

Assessment criteria 

All questions must be answered correctly in order for you to be assessed as having completed the task satisfactorily.  
Give three examples of risks that should be taken into account in developing and implementing strategic plans. 

Strategic planning is the process of documenting and establishing a direction of business. Risk is always uncertain in business; we must map out the specific steps required for the implementing and development of strategy. Here are some examples of risks that should be undertaken while developing and implementing

strategic plans:

Economic uncertainty is one of the main factors affecting the strategic planning and development. Faced with weaking economic conditions, we could make the decision to scale back our marketing plan in order to reduce expenses. 

Competitive factors

The competitive factors is constantly changing in the business, we should always be aware about the risk. There is always risk of launching new product, similar strategic, and new competitors. We should always adjust our strategies and implementation steps to counter action taken by our competitor. 

Delays in project completion

We invest a lot of time and resources developing and implementing our strategies for the completion of the project. But sometime due to lack of enough resources, ideas and hard work our project are not completed on time. We should always include second option to minimize the risk of delays in project completion in our strategies.

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