Saturday, August 24, 2013

Risk Management, Research and Reward

Despite clearly defined roles, entrepreneurs must wear many hats. Examples include operations manager, business manager, procurement, contract negotiation, logistics, resource management, inventory control, planning, company liaison, marketing, sales, workshop and curricula design and much more.

Yesterday we spent time reviewing risk management in the area of contracts and procurement. Today was a day to work on project residuals, followed by more research. In addition, we put our name in the hat for a curricula related project.

Risk and reward are intrinsically linked. Without risk there is no prospect of reward, and rewards require an ability weigh and mitigate (transfer) risk. Success requires integrity, tenacity and a willingness to collaborate and build strategic partnerships. It also requires clarity and perspective.



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