Explain with justification on pressure to reduce costs in a market.

5 PagesĀ Font type size Arial size 11Citing and No plagiarism Please!!Please be honest and on time so we will always deal together šŸ™‚ good luckĀ The question is JEL plc, a UK-Based insurer, operates in a market which is subject to strong competition, where reputation is of vital importance and there is pressure to reduce cost. In addition, JEL plc has recently experienced three additional issues:* Failur of third party service provider to deliever the main terms of an outsourcing contract.*Poor engagement with its shareholders.* A reduction of its marketing and advertising budget by 50%.Ā (A) Explain with justification one significiant risk arising from each of these three additional issues faced by KEL plc.Ā (B) Explain with justification how each of these three significiant risks can be mitigatedĀ 

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