Necessitate careful planning and adaptability

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Reference no: EM133770086

Question

Systematic risks such as COVID-19, recessions, and inflation each present unique challenges that necessitate careful planning and adaptability. The COVID-19 pandemic highlighted how global events can abruptly disrupt business operations. For a frozen yogurt store, implementing health and safety protocols, considering flexible business models like takeout or delivery, and maintaining financial reserves can be crucial for managing such disruptions. Recessions typically prompt consumers to shift spending from discretionary items to essentials, which can impact frozen yogurt sales. To counter this, diversifying product offerings, introducing more affordable options, and employing promotional strategies can help maintain customer interest.

Reference no: EM133770086

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