avoiding risk

scarcity mindset

How Scarcity Mindset Can Cripple Your Company’s Future

By Carol Williams / August 22, 2022 /

I don’t think it’s an understatement or cliché to say that the uncertainty gripping today’s business environment and overall economy is thick enough to cut with a knife. With inflation still stubbornly high and the odds of a recession increasing dramatically in recent months, companies are once again considering how to best navigate choppy waters.…

Read More

Determining the Best Approach for Low Probability Risks

By Carol Williams / July 27, 2022 /

To start today’s article, I would like to share a family story from July 2021… My husband Nathan was taking our son Jackson to his first baseball game. The two of them took a “guys” trip to see a minor-league team in my former hometown about 3 hours away. On their way, they stopped at…

Read More

8 Possible Consequences of Not Being Proactive in Risk Management

By Carol Williams / June 14, 2022 /

You don’t need to be a rocket scientist or have a crystal ball to know how chaotic today’s world is. Whether due to rising costs, supply disruptions, or some other industry-specific issue, companies across-the-board and around the world are experiencing unprecedented challenges, where the response/reaction will determine their course for the next decade or more.…

Read More

Multi-Decade High Inflation Creates Both Risks and Opportunities

By Carol Williams / May 3, 2022 /

Back at the beginning of 2021, I explored the gathering storm clouds of inflation and whether it was going to become an issue for businesses and individuals in the year ahead. Very few were talking about it at the time, but signs were percolating that price inflation was indeed going to increase – the question…

Read More

Alternative Methods to Clarifying Risks and Opportunities

By Carol Williams / April 5, 2022 /

Have you ever asked 10 people the same question and received 10 different answers? It may seem funny in hindsight or on your favorite sitcom, but I can attest personally that it can be incredibly frustrating. In a previous article outlining the elements of a clearly articulated risk statement, I discussed how not having a…

Read More

Asserting the Answer – A Common Pitfall of Effective Problem Solving

By Carol Williams / March 18, 2022 /

You know what they say about assumptions, right? One particular quote from one of my favorite action movies, the Steven Seagal classic Under Siege 2: Dark Territory comes to mind, but it’s not appropriate to repeat here. Instead, we’ll turn to the brilliant Albert Einstein who is quoted as once saying… Assumptions are made and…

Read More
Current political events impacts supply chain resiliency

Impacts of Russia-Ukraine War Accentuate Need to Examine the Full Spectrum of the Supply Chain

By Carol Williams / March 4, 2022 /

Like many, I’m overjoyed when I see young children being inquisitive. During a family dinner last week, my 7-year old son became intrigued about his heavy-duty insulated plastic cup he was drinking out of. He asked my husband and I if we knew how they could get the logo inside the cup and then began…

Read More

3 Components of an Effective Risk Statement

By Carol Williams / February 25, 2022 /

Have you ever been given an assignment at work without clear instructions? It can be dizzying to try and figure out what your first steps to be. At best, it’s disconcerting not knowing if you’re on the right track, and at worst, you don’t even know what your desired end result should be or look…

Read More
ESG provides risk and opportunities

Does ESG Expose Additional Risks and Opportunities?

By Carol Williams / February 11, 2022 /

If you work with a publicly-traded company or otherwise follow financial news, you’re undoubtedly familiar with ESG, which can best be described as a “set of standards” for evaluating a company’s track record on an array of Environmental, Social, and Governance issues. Over the last decade or so, ESG has become a significant concern for…

Read More

Project vs. Portfolio Management – Avoiding a Common Trap with Strategic Initiatives

By Carol Williams / February 3, 2022 /

Now that we’re firmly in the New Year, strategic goals and objectives are set for 2022. Departments within the company are now working on projects and initiatives to help the company achieve these goals. Getting to this point is an accomplishment in its own right, but this is also where many strategic goals meet their…

Read More