|
Cover
Story
Project
Risk Mitigation: A Holistic Approach to Project Risk Management
--Timothy
Dowsett, Johannes Strydom
In
today's business environment, change is happening at an ever-increasing
rate. To stay ahead of the competition, or in some cases to
even survive, companies need to change quickly and smoothly.
An increasingly common technique being used by companies to
manage change is to define the desired goals of change and
package the process towards achieving those goals into a project.
Projects and the risks associated with projects have become
an integral part of business. In this paper, the authors examine
the many risks associated with projects and explain how taking
a holistic approach can minimize these risks.
©
Ernst & Young. Reprinted with permission.
Budgeting
for Risk --Alan
McNee
Managing
risks in fund management has become a critical issue for the
fund managers to ensure that funds do not underperform an
agreed benchmarked index. It is also important for mitigating
the sharp divergence between growth and value of the funds
and safeguarding the funds from weak equity markets and market
volatility, which has risen as the aftermath of September
11. The article discusses the risks that need to be taken
care of by the fund managers and the new rules in risk management.
©
www.erisk.com, March 2002. Erisk is a Web-based publication
covering Enterprise Risk Management. Reprinted with permission.
Is
Your Company at Risk?
--John
M Collard
There
are many instances in the corporate history of companies meeting
untimely death. In an uncertain business environment, this
problem has become more acute. Though, accumulated losses
have been cited as the main reason for the untimely demise,
this may be the result of other problems. The responsibility
falls on the managers to recognize the early warning symptoms
of illness within their organizations. Not only that, managers
also need to handle such symptoms effectively as and when
they arise. The author has asked ten questions, the answers
to which will help the managers assess whether the company
is at risk.
©
Strategic Finance Magazine, June 2002, Published by IMA, Montrale,
NJ, USA, www.strategic financemag.com; www.imanet.org. Reprinted
with permission.
Leadership
& Entrepreneurship
The
New Accountability --Brian Ward
In
the new world order, the old ways of holding people accountable
are a passé. The recent accounting scandals in the
US prove that the old ways of accountability should be discarded
for new accountability. The article discusses the characteristics
of old and new accountability and how organizations can adopt
the new accountability system.
©
Affinity Consulting. www.affinitymc.com. Reprinted with permission.
Strategic
Management
Building Better Alliances
Alliances
are important engines of growth. The importance of alliance
can be realized from the fact that the number of alliances
formed in the year 2000 was ten times more than the previous
year. Alliances also determine the market value of companies.
However, it is seen that many alliances have failed and the
failure rate is currently at 40-50%. Why do alliances fail?
The article answers the question and explores what companies
need to do to form long lasting alliances.
© "Building Better Alliances" Originally appeared
in Outlook 2001, Number 2, an accenture publication. Reprinted
with permission.
Business
& Economics
Steel
Wars --Anindya
Roy
The
recent imposition of tariffs and quotas on imported steel
by the president of US triggered the beginning of trade war
between the US and the steel exporting countries. The article
finds out the reasons behind the imposition of tariffs and
quotas, the effects of tariffs and quotas, and the future
of this trade war.
© IUP. All Rights Reserved.
Strategic
Management
The
Extended Enterprise: The Evolution of E
-business Gateways
The
advent of the Internet has changed the nature of business
transactions. Internet has helped organizations to communicate
electronically, with their partners, customers, suppliers
and employees at a lower cost. However, companies still have
isolated information systems that support their various e-business
initiatives. These disparate information systems cannot communicate
with each other, thereby and also unable to interact with
customers, suppliers, partners and employees in real-time.
Organizations need to evolve as extended enterprises, for
which they need to fully integrate their business applications,
people, processes and information technology. The paper presents
AT Kearney's predictions about the evolution of the extended
enterprise and discusses how senior executives can make the
most of this emerging opportunity.
©
AT Kearney, 2002. Reprinted with permission.
Marketing
Management
Customer
Retention is not Enough --Stephanie
Coyles and Timothy C Gokey
The
cost of acquiring new customers is five times the cost of
serving the existing customers. Companies spend millions to
understand and retain the existing customers to encourage
them to spend more. However, in today's environment customer
retention is not enough. What is more important is, attitudes
and changing needs of the customers. Companies need to develop
new ways to understand the changing patterns of customers'
buying habits. The article discusses how companies should
go about in developing ways to understand the changing patterns
of customers' buying habits.
©
The McKinsey Quarterly, 2002 Number 2 (www.mckinsey.com).
McKinsey and Company. Reprinted with permission.
Human
Resource Development
The
New Dr. Reddy's: People Driven --E
Kumar Sharma
During
its inception period, Dr. Reddy's Lab had a more close and
hierarchical structure. However, to compete globally, Dr.
Reddy's Lab had to change its organizational structure. The
article discusses the change that is taking place at Dr. Reddy's
Lab to facilitate its globalization process. According to
the author, a people-driven atmosphere is developing at Dr.
Reddy's, that is taking over the reins of development.
©
Business Today, September 1, 2002. Reprinted with permission.
Originally published as `Dr. Reddy's Lab: It's the people,
Stupid'.
Managerial
Skills
Peter
Drucker's Philosophy of Management
--Dr.
Suneel Sethi
In
the world of management, Peter Drucker is known as a management
thinker or a guru who has invented the philosophy of management.
Even at the age of 92, he continues to teach and write, and
advise corporations. In this article, the author talks about
Peter Drucker, his philosophy on management, his beliefs about
organizations (both private and government) and the employees.
© IUP. All Rights Reserved.
|
