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Consider the following scenario. Suppose you are the owner of a small lawn cutting business with one part-time employee. Your goal is to grow as well as hire full-time employees. You price your services fairly by comparing five local competitors and selecting the middle ground. You have enjoyed steady growth in sales until the last few months. Now you are losing a few of your clients to a local competitor who has undercut your pricing, resulting in more net losses in clients. What strategies would you implement for pricing your services?
Risk is one of those words that takes on a myriad of meanings, depending upon the discipline."risk" is defined as: 1. The possibility of suffering harm or loss; danger.
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