Before deciding on a course of action, you might also consider whether you should respond at all. After all, gluing, breaking, or fixing your business isn’t easy. It requires considerable investment in money and managerial time. Would you be better off waiting? To answer that question, you’ll want to take into account the cost of action, as well as the risk of loss due to inaction. The cost of action will depend on the specifics of your firm’s market, approach, and resources. It’s a fairly standard calculation that established firms can easily perform. The risk of loss due to inaction,
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