Strategic Position And Risk Assessment Essay
With the tremendous growth and demand for tutoring services the level of competition in the industry has risen to new heights. Nonetheless, TTMS continues to pride itself on offering the highest quality service at a competitive and affordable price. Our success depends greatly on effective strategies which are outline as follows:
• Strengthen our relationship with schools we are already working with.
• Establish new and strong relationship with other schools in the neighborhood
• Evaluate clients ' learning needs to pinpoint where they are having difficulties having difficulties understanding concepts.
• Organize fundraising activities to gain additional funding for expansion.
• Institute a monitoring system to track the progress of participants.
• Design effective teaching methods and approach that will helps students better understand challenging concepts.
• Utilize excellent advertising and promotional tools.
• Provide quarterly professional skill developmental training to effectively execute our high-quality mandate.
In formalizing TTMS there are numerous risks to be considered. Firstly, starting the business as a sole proprietorship brings about the risk of losing personal assets such as cash which was injected as capital to start the business. Potential lawsuits are inevitable and will take a portion of the company money and may force the possibility of an early closure. Other significant risk is low enrollment and…