ADVANTAGES

From the discussion of sources of strategic risk above, it is obviously going to be difficult to mitigate certain sources of strategic risk. The fact that it is difficult to manage or transfer risks through futures or insurance markets, or by controlling debt, does not make strategic risk less of a concern. Creative strategies are often needed to manage strategic risk exposure. These approaches may include flexibility, adaptability, and diversification. In essence, strategic risk requires the development of alternatives or contingency plans.

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