Critical Risk Assessment and Milestone Schedule
Critical Risk Assessment and Milestones Schedule
Critical Risk Assessment and Milestones Schedule
Danielle Sain
Grand Canyon University
Strategic Management
MGT660
June 1, 2011
Critical Risk Assessment and Milestones Schedule Rocky Mountain Event Planning has an enormous strength by offering its planning services worldwide. This enables Rocky Mountain to obtain numerous vendor relationships with organizations across the world and gives their clients a number of options to choose from, especially if those vendors operate nationally or internationally. Another key strength would be the locale of where Rocky Mountain is based out of. Colorado and the scenery it has to offer is an incredible attraction for people looking to have their events there. Accompanying the strengths are weaknesses that Rocky Mountain Event Planning has to tackle. Currently, the market is saturated with event planning businesses. They range from companies that have been around for fifty years to start-up companies working out of a garage. Another weakness would be the recession that has hit millions of American people. These weaknesses threaten the company by ways of limited consumer spending on luxury costs because of the recession to customers having a wide variety of event planning business to choose from. Those threats could be seen as opportunities for Rocky Mountain by making the owner and employees become creative in their ideas on ways to offer their services with limited costs and being imaginative in capturing the customers’ attention to choose Rocky Mountain as their event planner. The company will start off very small and with limited resources for funding will operate part-time until enough revenue is generated to go full-time. All issues that arise during the event planning process will be dealt by the owner. In additional, all marketing, financial and operational decisions will be made by the owner as well. With only one person calling the shots allows
Critical Risk Assessment and Milestones Schedule
Danielle Sain
Grand Canyon University
Strategic Management
MGT660
June 1, 2011
Critical Risk Assessment and Milestones Schedule Rocky Mountain Event Planning has an enormous strength by offering its planning services worldwide. This enables Rocky Mountain to obtain numerous vendor relationships with organizations across the world and gives their clients a number of options to choose from, especially if those vendors operate nationally or internationally. Another key strength would be the locale of where Rocky Mountain is based out of. Colorado and the scenery it has to offer is an incredible attraction for people looking to have their events there. Accompanying the strengths are weaknesses that Rocky Mountain Event Planning has to tackle. Currently, the market is saturated with event planning businesses. They range from companies that have been around for fifty years to start-up companies working out of a garage. Another weakness would be the recession that has hit millions of American people. These weaknesses threaten the company by ways of limited consumer spending on luxury costs because of the recession to customers having a wide variety of event planning business to choose from. Those threats could be seen as opportunities for Rocky Mountain by making the owner and employees become creative in their ideas on ways to offer their services with limited costs and being imaginative in capturing the customers’ attention to choose Rocky Mountain as their event planner. The company will start off very small and with limited resources for funding will operate part-time until enough revenue is generated to go full-time. All issues that arise during the event planning process will be dealt by the owner. In additional, all marketing, financial and operational decisions will be made by the owner as well. With only one person calling the shots allows
References: Entrepreneur Media (2011). Retrieved on April 20, 2011 from http://www.entrepreneur.com/startingabusiness/businessideas/startupkits/article37892.html James. (2011). What is Affiliative Leadership & When Do You Use It?. Leadership Vibe. Retrieved on June 1, 2011, from http://www.leadershipvibe.net/affiliative-leadership-when-to-use-it Personal Event Planning Business Plan. (1996). BPlans. Retrieved on May 2, 2011, from, http://www.bplans.com/personal_event_planning_business_plan/executive_summary_fc.cfm