Maybe there will be a recession and people will be laid off work and consumers will have less disposable income to spend on gadgets and accessories. However, history has shown consumers will continue to splurge on smartphones despite poor economic conditions (Hamblen). Either way, markets can be unpredictable, so it’s wise for TechSid to prepare for the worst-case scenario. Another potential unknown TechSid faces is if the Canadian government implemented higher trade barriers, like that of Donald Trump. One source stated during a campaign, Trump said “he'd impose tariffs of 35 percent on Mexican imports and 45 percent on Chinese imports to protect American jobs from unfair foreign competition. Companies that import those goods would pay the tax at the border” (“For Americans”). In this event, TechSid would have to either pay a hefty price or consider finding new suppliers within North America. As there are several unknown factors that can impact TechSid, it’s important for the company to consider the implications of each scenario and to be prepared ahead of time. Being proactive is the best way to be one step ahead of the market’s
Maybe there will be a recession and people will be laid off work and consumers will have less disposable income to spend on gadgets and accessories. However, history has shown consumers will continue to splurge on smartphones despite poor economic conditions (Hamblen). Either way, markets can be unpredictable, so it’s wise for TechSid to prepare for the worst-case scenario. Another potential unknown TechSid faces is if the Canadian government implemented higher trade barriers, like that of Donald Trump. One source stated during a campaign, Trump said “he'd impose tariffs of 35 percent on Mexican imports and 45 percent on Chinese imports to protect American jobs from unfair foreign competition. Companies that import those goods would pay the tax at the border” (“For Americans”). In this event, TechSid would have to either pay a hefty price or consider finding new suppliers within North America. As there are several unknown factors that can impact TechSid, it’s important for the company to consider the implications of each scenario and to be prepared ahead of time. Being proactive is the best way to be one step ahead of the market’s