Risk assessment and contingency plans for Spotify
Instructions
Discuss 3 significant risks that could impact Spotify's performance. Propose contingency plans for the company should one or more of these risks occur. No conclusion, please.
Answer
Spotify Risk AssessmentSpotifys music streaming services are still expanding despite the competition the company is facing from other established companies offering similar such as Pandora, Apple Music, and Beats music. Possible threats facing Spotify can disrupt its business model, thus making the company unable to achieve the set objectives. In overcoming the emerging threats, Spotify needs to adopt innovative strategies that eliminate chances of stagnation and ensure it retains its position in offering digital music. This paper provides a discussion of three possible threats facing Spotify and also identifies the contingency plans to overcome these threats. Risk Assessment High competition from other online streaming platforms is one of the significant threats facing Spotify. High compe...
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