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Risk Management Assignment | Risk Mitigation

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Added on  2020-04-07

Risk Management Assignment | Risk Mitigation

   Added on 2020-04-07

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Running Head: RISK MITIGATION STRATEGIES 1Case Study<Student ID><Student Name><University Name>
Risk Management Assignment | Risk Mitigation_1
RISK MITIGATION STRATEGIES2Risk mitigation:Risk mitigation could be defined as the strategic approach for developing alternativesand actions that could subsequently provide reduction of threats alongside improving theopportunities for accomplishing the objectives of a project (DuHadway, Carnovale & Hazen,2017). Apple Inc. has created a niche for itself in the electronic products market withformidable dominance in the sectors of personal computers as well as mobile devices such asthe iPhone, iPod and iPad. However, the recent trends in the domain of technology haveprovided impetus to other companies to access a substantial share of the smartphone marketespecially observed from Samsung. Therefore, Apple Inc. has to implement appropriate riskmitigation strategies for tackling the identified risks in the report such as competition,manufacturing risks and inventory management. Competition:The strategies that could be adopted by Apple for addressing the risk of competitioncan be observed in branding. Branding is considered as an effective resource to develop afavourable relationship between customers and the brand thereby emphasizing on theoutcomes of customer loyalty (Giannakis & Papadopoulos, 2016). The aspects of Apple’s branding include a unique brand identity developed by thecompany over the years which is also responsible for acquiring a large share of customerloyalty (Malhotra, 2015). However, customers that depict loyalty to the brand should also beprovided with the necessary advantages in terms of innovation which could be accounted as aprimary strategy for Apple to mitigate the risk of competition. Inventory:
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