Steve Davies Online

One of the most easily identifiable risk factors facing any company is the loss of a major customer. It is one of the most alarming things that can happen in business but as with any risk factor, there are ways to minimize the risk beforehand and processes that can be implemented if it does occur. 

In this article, I will look first at some things you can do to minimize the risk in the first place and then go on to look at how to react when it does happen to you. Planning ahead is critical but with a little effort the damage can be significantly reduced.

The mission statement is probably the most outdated corporate invention of the last thirty years. The problem is that so many people are so intent on conforming to politically correct positions that they fail to communicate and simply regurgitate blinding glimpses of the obvious.

The template for a mission statement seems to be that it should be no more than five lines long, and written in staccato sentences that hit all the key buzzwords – customers, employees, integrity, profits and shareholder return.