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Maximizing Profit by Managing Threats
Learn how to manage threats and retain customersPreview the first lesson free — get full access to all 5 lessons.
Beginner Provider : Joseph Rice 5 Lessons · 11m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
No marketplace is threat-free. To survive in business, a company needs to understand the threats that are out there. Threats can be both external—such as competitors—or internal, like those that can affect your supply chain. Because every business faces numerous threats, there needs to be a plan to mitigate them.
In KnowledgeCity’s course on Maximizing Profit by Managing Threats, you’ll focus on identifying and recognizing threats to your business. You’ll explore how a business must be able to prioritize threat assessment and apply the appropriate resources to each challenge. We’ll also talk about threat management—and when and how to allocate resources based on your market diagnosis and business goals. Finally, you’ll look at customer retention, why it’s important, and how to maximize it.
What You'll Learn
- Describe what a threat is and recognize threats to your business
- Identify both external threats such as competitors and internal threats that can affect your supply chain
- Explain why prioritizing threat assessment is important
- Apply appropriate resources to each challenge based on your market diagnosis and business goals
- Identify how threats can be mitigated through threat management
- Maximize customer retention and understand why it is important
Key Takeaways
- No marketplace is threat-free, so a company must understand the threats it faces to survive in business.
- Threats can be external, such as competitors, or internal, such as those affecting your supply chain.
- Because every business faces numerous threats, there needs to be a plan to mitigate them.
- Threat management involves deciding when and how to allocate resources based on your market diagnosis and business goals.
- Customer retention is important and should be maximized as part of managing threats to profit.
Frequently Asked Questions
What does this course cover?
The course focuses on identifying and recognizing threats to your business, prioritizing threat assessment, applying appropriate resources to each challenge, threat management and resource allocation based on your market diagnosis and business goals, and customer retention.
What types of threats does the course address?
It addresses threats that can be external, such as competitors, or internal, such as those that can affect your supply chain.
What will I learn to do by the end of the course?
You will be able to describe what a threat is, explain why prioritizing threat assessment is important, and identify how threats can be mitigated.
How is the course structured?
The course includes the lessons Introduction, Identifying and Assessing Threats to Profit, How to Manage Threats, Customer Retention, and a Test Your Knowledge section.
Why does the course emphasize threat management?
Because no marketplace is threat-free and every business faces numerous threats, there needs to be a plan to mitigate them in order to survive in business.
