War has been eminent throughout human history. With each conflict, the involved nations’ economy has been affected. Recently a planned attack by experienced Somali militants on a luxury mall has left many Kenyans and tourists dead and injured. Certainly, this has made many news articles around the world.
After hearing this incident, as a consumer, I would be less likely to enter the region because of the violence. With possibly many others with the same thoughts, business from tourists in the region is likely to decline. In order to combat this, if I were a business owner, I would try to find a partner outside the region to sell my product. However, in such a destitute region, this idea seems highly unlikely. Therefore, the only way I can imagine to survive is to rebrand my products and alter the business model so it targets local residents. If possible, I would buy insurance to ensure the safety of my business.
Being the owner of a business in third world country with violence is not an easy task. However, by adapting the business model to the changing environment and meeting what is demanded can help the business thrive. This can include changing the value proposition.Â
Article and Picture: http://www.theglobeandmail.com/news/world/death-toll-in-kenyan-mall-siege-expected-to-rise/article14459430/