"Do not fear to step into the unknown, for where there is risk, there is also reward." -Lori Hard
Photo credit: http://www.flickr.com/photos/derekgavey/5295516326/lightbox/
Guest Post by John Anderson – Executive Street Contributor
Risks are inevitable whether it be in business or in simple day-to-day activities. But what can be controlled are your actions towards handling those potential risks. Instead of merely reacting, you have to be proactive with your risk management decisions and here are some ways that may help you do just that.
Essentially, the four methods of risk management are the following:
Background and Challenges
• Mary Kay Ash was unable to attend college without financial assistance.
• She sold encyclopedias door-to-door in the late 1930's.
• While working as a secretary at a Baptist church, she sold Stanley Home Products to provide financial support for her family. It took her one year to learn direct selling and receive the title of sales queen.
• She joined the direct-sales firm World Gift in 1952 after she left Stanley Home Products when the company promoted other men over her lacking her knowledge and talent.
"Growth means change and change involves risk, stepping from the known to the unknown." -George Shinn
Gerald Kendall and Kathleen Austin's book "Advanced Multi-Project Management" confronts the critical reason why projects fail and why, according to the Standish Group, project success is not improving. This book addresses the key concerns that senior management has with implementing the right projects at the right time with the right resources to take advantage of a strategic opportunity while at the same time providing guidance to the organization's program managers who are overworked and fighting for resources to complete the project that they already have under way. The book highlights key processes required to control the flow of active projects, develop a correct project network, implement a strategic buffer, establish a single project priority system, enable faster execution and provide a consistent methodology for recovering projects to ensure investment benefits are achieved.
"Growth means change and change involves risk, stepping from the known to the unknown." -George Shinn
“I believe that one of life's greatest risks is never daring to risk”. Oprah Winfrey