Section: Implementation and Operations

* Risk Mitigation in Global Economic Downturn: Diversification is a key strategy to mitigate financial risk during economic downturns.
* Actions Considered:
* Expanding the Customer Base Globally: Diversifies revenue streams, reducing dependency on any single market, thus spreading risk.
* Reducing the Global Workforce: May reduce costs but doesn't address revenue risks and could harm operational capacity.
* Reducing Prices of All Products: Could lead to decreased margins and isn't sustainable long-term.
* Adding Features for All Products: Increases costs and may not align with market demand during a downturn.
* Conclusion: Expanding the customer base globally is the most effective action to mitigate financial loss by spreading revenue sources and reducing dependency on a single market.
References
* "Global Supply Chain Management: Leveraging Processes, Measurements, and Tools for Strategic
* Corporate Advantage" by G. Tomas M. Hult, David J. Ketchen Jr., and Elnora W. Stuart.
* APICS Dictionary, 16th Edition.