Reducing the Uncertainties
Many business studies have documented that our uncertainties can paralyze our decision-making. Wintergreen Management Company (Wintergreen)can help your business identify these uncertainties or “pain points” and develop plans and knowledge to expose and eliminate the uncertainties. It is easier to make decisions when you better understand your unknowns.
How risk affects your bottom line
The old adage “The Bigger the Risk, The Bigger the Reward” is as true today as ever before. So how does one grow or preserve their business without “rolling the dice”? The answer is in understanding the risks that your business faces; thinking through the strategies and plans to address these risks, and identifying the opportunities that can come from these risks.
A big misconception of risk management is people often think that risk management is about saying no to anything new. However, the real value of risk management is finding ways to say yes without putting your business in harm’s way. In pushing your growth envelope or protecting your current position without rolling the dice is where many businesses find successful profit growth.
So, how can risk affect your bottom line? It can overwhelm the risk reward ratio to the point that your business is taking on large liabilities for little additional profit. Or the same risks can make a business hesitant and reluctant to make the decisions that can grow your business. A speaker at a seminar that I attended many years ago said "Businesses are rarely static. They are either moving forward or going backwards as their competition catches up with them". A good risk management program can be a key element in moving your business moving forward without "rolling the dice".