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Breaking Failure: How to Break the Cycle of Business Failure and Underperformance Using Root Cause, Failure Mode and Effects Analysis, and an Early Warning System by Alexander Edsel

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4. The Early Warning System

“Forewarned, forearmed; to be prepared is half the victory.”

—Miguel de Cervantes, author of Don Quixote.

Situational awareness is a term used to define the need for heightened awareness of one’s surroundings when entering an area of uncertainty or danger. In a business context, it is the ability to identify, process, and comprehend on an ongoing basis the critical elements of information about what can and is occurring. The purpose of this chapter is to raise situational awareness on a continuing basis among companies concerning our ever-present companions: failure and underperformance. Usually, managers have a heightened sense of awareness during the creation and initial stages of a new endeavor, but as soon as that ...

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