|
 
Case Studies
September 2007
Risk Identification and Mitigation:
An Ounce of Prevention Equals a Pound of Cure
On August 29, 2005, Hurricane Katrina ravaged the Southeast Coast of the United States. In its wake, people were left dazed, yet enlightened to the risks that arise during a natural disaster. The country learned that with inadequate preparation and the lack of an established a policy, a breakdown in damage control occurs. In business, the same is true. When change initiatives take place without recognizing the level at which the risk falls, or how to mitigate those dangers, the company’s longevity is threatened. One needs to first assess the risk, then its rating, its scope and its predicted time of impact before taking the next step in choosing a countermeasure. Without critically examining the threat, it is unlikely that it will be paired with the correct mitigation.
Read Article >
__________________________________________________________
June 2007
Business Killer on the Loose!
How to Foil the Single Point of Failure
Imagine you are asked to move 100 marbles from one side of a room to the other. This must be accomplished within 15 minutes, and once moved, the marbles must be collected in a box. You rig together a funnel and a tube, with the tube’s end located in the box. This contraption requires the simple step of pushing the ball through the funnel, so it can continue its path through the tube. There is a single point of failure, however, in that the funnel at times disconnects from the tube, resulting in the marbles falling on the floor.
How would you fix this problem? You could approach the situation by inventing a different device, perhaps a Rube Goldberg model in which an elaborate apparatus with incongruent parts surprisingly work together in performing the desired action. While it may get the job done, each piece represents two points of failure — each end of the connection. Or, using tape to firmly attach the parts, as well as having extra tubes and funnels on hand could address the situation. Which solution would you choose?
Read Article >
__________________________________________________________
March 2007
Optimizing Networking - Personally and Professionally
The foundations of Marketing are based on a “word of mouth” concept and incorporate educating, informing and influencing the general marketplace by directly targeting the intended audience that benefits from a product or service. It is a systematic ritual creating the intended expectations, as well as defining how a product or service fulfills the market’s requirements, needs and tastes.
“Word of mouth” marketing combines the fundamentals of the seller “hawking” his goods, with the countless business and personal “referrals” made by acquaintances or customers. The “word of mouth” aspect exponentially expands the scope and approach of how business is conducted in today’s business world. This marketing approach, for both large and small firms, is called networking. By identifying, clarifying and establishing the firm’s uniqueness and the means to communicate directly with individuals, networking is integral to the performance on both an individual and business level.
Read Article >
|
