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Strategy and Risk Management by Ron Rael

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4

WHICH Risks Do We Need to Be Concerned About?

“I feel like I am king of the world, or at least I am on top, and want to go out that way.” Allison P.

It was a 41° Celsius May morning when I next met with PJ Investment’s (PJI’s) management team. As I led them into our room they noticed numerous flipchart sheets taped to the left and right side walls, but the sheets were folded in half, so they could not see what was on them. Their curiosity was high, which is what I desired, but they would have to wait to satisfy their curiosity. I needed to ease them into what I knew would be an exhausting session.

There is a saying that goes, “It is not the same to talk of bulls as to be in the bullring.” Therefore, today, we will grab the bull by the horns and face the situation. This, in essence, is the first step in managing risk.

“The last time we were together I asked each of you to make a list of the possible risks or obstacles that both you and your employees felt this organisation faced. The 21 sheets on the left side of this room show what you came up with.” (My assistant opened the sheets, so that participants could see the data.) “There are 169 unique risks that employees in this organisation are concerned about.”

Selecting one of the newer additions to the management team, Sondra, I asked her, “What does this long list of risks tell you?”

She replied, “It tells me several things. My company faces a lot of issues each day, many that could undermine our success. It also helps me to ...

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