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Strategy and Risk Management by Ron Rael

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6

WHERE Do Our Efforts Need to Be?

“The person who invented that device lost more brains before breakfast than you and I will ever have.” Harry A.

Rain in the desert is rare, so when the clouds show up bringing rain, people who live in the desert are happy. In most places where I travel, rain is not so desirable; however, there is a cost to this rain, and I arrived in Phoenix, Arizona, to witness the wonders of an intense desert rain storm.

Sources of Jeopardy

Crack! The slate grey sky flashed a brilliant white warning of a powerful storm that could bring rain. I could feel electricity in the air as I entered the conference centre. I decided to use the storm as an introduction to today’s session with PJ Investment’s (PJI’s) managers. When everyone settled in I greeted them. Then we heard a loud BOOM that seemed to shake the building and got everyone’s attention.

“Please imagine that you are standing out in the middle of an open field when this lightning storm arrives. What would you do? How would you react?”

They shouted out responses of

  • run for cover!

  • get as low to the ground as possible!

  • get the heck out of there!

“What if you could not leave the area? What would you do if there is no shelter for miles? In other words how would you protect yourself?”

Jacob responded, “If I found myself in a situation like that, I would pray that the lightning would miss me.” His peers laughed.

“Thanks, Jacob. Companies that choose not to practise risk management are like Jacob, hoping and praying ...

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