Definition of Interstice: 1. a minute opening or crevice between things. 2. Physics. the space between adjacent atoms in a crystal lattice.
Discussions on risk and risk management are often intangible and can take on various points of view. A colleague of mine likens Risk Management to "Interstitial Management"; the management of the small spaces or crevices between things. This is an excellent analogy of risk and how it can impact your business. Risk permeates all aspects of a company. It is not a side activity nor a periodic activity. It is deeply involved in your decision making and what part of your business does not make decisions?
Risk and risk management should be considered a mindset or culture for your company and be a consistent and working aspect of your entire organization. Just as risk permeates your business, risk management should permeate your organization. Teaching your team to better understand and process risk will help them grow to make better decisions and better decisions can lead to a better business. Having a structured method for discussing and dealing with the risk impacts on the business can be a strong measure to teach sound decision making and produce a better consistency across your organization. Improving the confidence in your organization's decision making can reduce the time spent on back checking and correctiing errors and increase the time you spend with customers and growing your future.
We have found in the past that good risk management, sound business fundamentals, and active leadership within an organization usually run in concert with successful businesses. Wintergreen's years of practical experience can help you accomplish this by providing consulting and coaching services to your business and your organization.