Are You Hunkering Down too Much?
“Firms Poach Top Talent From Recession – Weary Rivals” says February 8th Wall Street Journal on page B6.
Risks are what really go wrong when you are not looking: stupid things like bounced checks, losing your best customers or best people when you are blindsided. Some firms took a lot more risk than they thought. After all, top talent now has been lost to a more nimble, more opportunistic competitor.
You need to create peripheral vision in your business so you are not blindsided.
When you get real and look at a 3-3-3 method regularly, every three months you employ the J Paul Getty approach of the top 3 risks which could reasonably happen. Then you look at reasonable efforts to prevent those things from happening.
When you decide to get real, what are the three key risks you are ignoring?
And for the third part of the 3-3-3 process, what three opportunities does you business plan count on occurring next year, which will NOT happen based on the resources you are investing in those areas?
Posted by FiscalDoctor com at 2/10/2010 12:09 PM 
Categories: contingency planning,business growth,profitability,risk,Enterprise Risk Management,due diligence,ERM,corporate governance
Tags: contingency planning business growth profitability risk Enterprise Risk Management due diligence ERM corporate governance
Categories: contingency planning,business growth,profitability,risk,Enterprise Risk Management,due diligence,ERM,corporate governance
Tags: contingency planning business growth profitability risk Enterprise Risk Management due diligence ERM corporate governance
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