Michael Richter
International marketing and sales consultant
Hauptstrasse 27
DE-88422 Seekirch
International marketing and sales consultant

Tel: +49(0)7582-933371
E-Mail: michael.richter@marketing-und-vertrieb-international.de

Dictionary for strategic marketing - ... marketing is ...

Dictionary

Assessing risks

The follwing 10 questions are regularly answered by prudent managers:

1. Are the targets and prognoses known - for the 3 coming years ?
Sales- (which clients in which industrial fields /regional markets/market-segments), investment- and personell planning ?

2. Is the liquidity sufficient ?
Ideally it exceeds 10 % of the total capital. Besides it is to be striven for: 20 % equity ratio

3. Is the client structure healthy ?
Dangerous: Dependency on specific clients and/or regional economic cycles.
Furthermore important: Effects of bigger 'non-payments'

4. Are the formal requirements of the clients known ?
Many products have fo fulfill regulations and norms (which sometimes are not even known by the clients !)

5. What about the suppliers ?
Crucial: Price, quality, reliability - and the degree of dependence from main suppliers

6. What happens if the production manager (or any other important manager) is out of action ?
(Indispensable: Obvious substitution- or succession regulations for all key-functions !)

7. Does the staff pull together ?
Increased fluctuation, illness or scrap quota are indicators for a lack of motivation !

8. Can information get lost or reach a competitor ?
Central aspects: EDP-security, honesty of the staff, thoughts of movement of labour

9. Is an innovation trap imminent ?
Who doesn't permanently work at the improvement of products and processes (see japanese car suppliers) risks his market position

10. How important are liability and accident risks ?
e. g. guarantees for blaze, crack, warranty, etc.
And: How would the clients react on an interruption of operation ?

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