the ceo magazine, risk management

Managing risk is a major element of the “chemistry of strategy.” You must understand strategic risks -- what they are, how to identify them, and how to assess and manage them from a strategic perspective. Financial risk is embedded in all risks, since the impact of all risks is ultimately financial. There are five major sources of strategic risk. Two have the potential to wipe your company out overnight (discussed in a previous post), and three, while unlikely to wipe out a company overnight, could smother it over the next three to five years.

the ceo magazine, strategy
Rick Norris

My uncle Wayne raced Indian motorcycles in the 1930s.  One of his projects was refurbishing a 1936 Indian Scout, though his sons Wayne and Bart ultimately completed the project. To do so, they had to take inventory of the bike and plan the tasks of obtaining the parts and executing the labor.  The end result purred.  However, now built, where was the bike going to take them?

In my experience, small and medium-sized businesses approach their enterprises the same way Wayne and Bart approached their hobby.  They look within their businesses and try to fix what’s wrong in order to get it running smoothly. 

Business Strategy, Leadership, Customer Satisfaction, Customer Loyalty, Customer Affinity, Employee Performance, Growth, Business Growth, Entrepreneur, Leadership Attributes

One of the most impactful areas to create a radical shift in business growth and results is to be able to distinguish between what you are doing” each day (i.e., work deliverables) and who you are being as a leader.   All businesses are results oriented, but what is it that makes one business more successful than another in a similar market? How is it that one company can cultivate more clients, more revenue, and attract more talent to their company? 

Within an organization, there is an energy flow.   I refer to it as the “Infinite Possibilities Cycle.”



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