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Journal Reflection

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1 Running head: RISK STRATEGIES Risk Strategies Institutional Affiliation Date RISK STRATEGIES 2 When creating growth opportunities, there are opportunities, as well as threats that arise. The case of Kilgore Custom milling gives an example of how risks can be explored and debated as part of the different approaches to Enterprise Risk Management. In such a case, strengths, weaknesses, opportunities, as well as threats, can be used. One of the main ways in which an enterprise can become competitive and successful is by focusing on low-cost manufacturing. Kilgore focused on a single product, low-tech as well as available labor (Fraser, Simkins & Narvaez, 2014). The second competitive factor utilized by Kilgore was quality. The enterprise specialized in building reputation for its products. Through this, the company differentiated itself from its competitors. The other competitive fac ...
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