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- 22/11/2009: Getting the balance right
- 15/11/2009: Choosing the right consultant
- 27/10/2009: Strategy Development Needs Strong Management
- 01/10/2009: Leicester Business Event 2009
- 09/09/2009: Merger and Acquisition - Is it a good idea?
- 28/08/2009: Do you have a competency development plan?
- 04/08/2009: Drive Growth Through Innovation
- 02/07/2009: Post Recession - What will be diiferent ?
- 23/06/2009: Strategy - Managing the Risk
- 03/04/2009: Be strong , go long
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Strategy - Managing the Risk
Politicians, business leaders and commentators are now speaking of green shoots and of being over the worst of the recession. Whether that is true is yet unclear, but what is certainly true is that time will wait for no one and delay in planning for the future upturn, could well prove to be very costly in the long term.
Reluctance to commit to a new strategy at this time is understandable, many business leaders will feel that it is too soon and far too risky. At Balmoral Strategy Development we feel that that there is far greater risk in delay.
So how do we address the issue of risk? The Balmoral Strategy approach borrows from a process used in engineering called failure mode effects analysis or FMEA for short. This approach attempts to quantify risk in terms of impact and likelihood. Having determined the major risks mitigation plans can then be developed that minimise both the likelihood and impact.
As always , all comments are welcome - Stephen Coe , Director Balmoral Strategy Development Limited