Question

n 2/3 paragraph explain what are some risks associated with a newly developed mobile application in terms of financial and market risk and what should we do about it?

Answer 1

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As nowadays every business is building its own mobile apps and websites to give it a range of success. An increasing the number of mobile apps is creating big success stories but with that newly develop mobile applications brings many financial and market risks.

Market risks are as follow

-risk of building an app which customer don't want: many businesses and up building an App which is is from their own perception rather than the customers point of view. It's quite important to note down the features that customers are exactly looking for, so it adds to the success of the business.

-risk of trying at only one platform: choosing aur building an app that is just supporting one platform can be a risky decision while limits the company's future opinions.

Financial risks are as follow:

-risk of high investment: building a mobile application involves the risk of high management as the company needs to hire developers, high profile management and experts that can help to build an app and also manage further operations and backends.

-risks related to security purposes: when the new mobile app is built and it certainly gets millions or lacs of users then there is more trade-related to security purposes as it can be hacked and the company needs to have experts for experienced developers to maintain the security.

So, basically, if a company wants the newly developed mobile application to be a successful venture then and the company should consider what exactly customers are looking for coma higher the employees who are quality developers and the company should not only e build mobile application for just one purpose or platform rather it should be supportive to multiple platforms. For example, an application that is basically built for Android phones will not be working on iPhones. So the company should build an app that supports both Android phones and iPhones.