Making intelligent and informed decisions is intrinsic to effective risk management. Many times risk management decisions are centered around loss events and the negative consequences that might eventuate. The positive aspects of risk taking are hardly noticeable.
Most businesses are under extreme pressure to reduce costs while improving product quality and customer service. Developments in the global economy such as globalisation and advances in new technology have changed the traditional balance between customer and supplier.
Suppose your business is facing significant competition from traditional and non-traditional competitors. Demand for your company’s products and services is tepid and customers are deserting you. Revenues are in sharp decline and the impact is beginning to show in shrinking margins.
The part about being a consultant that I struggle with is that you’re never quite on the team. You’re always a little bit of an outsider, and I think some of that’s changing in the last few years.
Twenty-two years within the corporate world with finance and accounting roles, I had little sales skills. I developed communication skills, and relationship skills. But as far as trying to sell you a product or a service, it’s an important skill I didn’t have.
