Every business transaction contains an element of risk, yet many companies do not have sufficiently robust systems in place to manage these risks.
In recent years we have witnessed just how costly the laissez faire attitude to risk was in many institutions be they large corporations or smaller SME’s.
In the never ending quest for larger profits many of the saner measures of business were ignored or even jettisoned.
An analysis of the most spectacular flame outs all have one common denominator – the architects of these calamities went hurtling over the cliff like lemmings.
All areas of exposure require constant and consistent monitoring.
A forensic analysis of receivables and inventories might make for uncomfortable reading but like most unpleasant tasks it should not be ducked.
It is always better to take remedial action such as a write down whilst you are in control of your own destiny rather than have a 3rdParty appointed to do it for you.
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