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As mentioned in Exhibit P-1 of our textbook, managerial accounting helps managers perform three vital activities – planning, controlling, and decision making. Write a brief 2-3 page paper about your employer or a favorite business you personally visit or are a patron (Starbucks, Netflix, Planet Fitness, etc.) and discuss the risks they face in their industry that can influence their planning, controlling, and decision-making activities.
Include specific examples of threats for all three areas and make suggestions for how they can reduce those risks. Use a SWOT analysis approach to your answer (strengths, weaknesses, opportunities, and threats). Are their risks internal, external, or a combination of both? Also include in your paper why you chose this company and evaluate how successful you think they will be, given their current strategic design, to be prepared for such risks. Provide quantitative and qualitative factors to support your opinion.
Compose your analysis using APA style. Include a cover page, and references.