Your Company recognizes that it faces some risks as it progresses through the various stages of its growth and implementation phases not depending on the based country. These risks can be identified, quantified and anticipated. So every company should have operational risk management plan. It’s so necessary for a business strategy like writing service with the lowest prices for students.
Acquire Copyrights & Trademarks:
Copyrights and trademarks have to be filed with appropriate North American and Canadian authorities. The company's principals will apply for copyrights and trademarks -- trademark and copyright protection may already exist for various OEM products and services. This is coupled with proprietary codes that will be in place for all programs designed by your Company under license, to ensure authenticity, minimize trademark infringements and piracy.
The information technology and content management services, along with the proposed e-commerce solutions have quality control challenges. It is relative to the quality control of the offered facilities, solutions and their integration in similar countries. Experience of management, diversified range of consultants, the strength of OEMs and corresponding technology team will support the success of maintaining the appropriate trademark and copyright protection.
Your Company's senior management has a well-established track record in effectively managing sales and production facilities to budget. Your Company may achieve its targets using a quarterly budget review process. This budget revision process may be used to address growth issues when sales outperform plan. During the revision process, the latest ratio of sales order intake to content production capacity will be compared to the previous quarter's.
Despite the forecasted demand in your Company's electronic catalog products and e-commerce services, the company should continue to be managed to conservative performance goals, to ensure that growth does not exceed the company's fiscal and human resources.
The company may continue to grow in specific areas being maintained adequately, namely:
Achieving Sales Targets:
Achieving specific minimum monthly sales goals is critical to the profitability and viability of the global operations. Your Company has to, therefore, build a profitable business plan around a goal of defined sales within twelve months, while at the same time having a global organizational structure capable of supporting incremental volume in sales with ease. The Vice President, Sales traditionally monitors tracking of sales results. Plans should be in place to establish and upgrade your automated system to track sales and expenditures, to ensure they are within budget. The budget tracking system will also have to be developed.
Following the initial set-up and subsequent production phase, project revenue may be used to support the company's growth. Lack of income may not allow operations to expand. Management may have to ensure that account executives have a compensation program in place. This will encourage all existing clients to be upsold on all of your Company's core services. Budget failure, therefore, could result if proper sales and marketing strategies are not implemented.
In the event of budget failure, your Company's senior management traditionally should immediately get involved to drive the sales development. Budget losses may be carried forward, and expenditures revised accordingly. Performance reports should regularly be monitored by sales management, and at least weekly by the principals. Sales tracking should be instantaneous -- using your Company's sales force automation's software. Risk of sales target failure is minimized as a result of on-going sales training of the IT specialists, project consultants and account executives.
Your Company's critical momentum may incorporate aggressive sales and marketing within core markets. Sales and marketing techniques will continuously have to be evaluated to ensure your Company is strategically positioned, relative to individual market needs and the competitive forces:
So, these are the most critical elements of the operational risk management plan that every business should have. However, you can add more detail aspects in it depending on the type of your company industry. Good luck!