Wrong Number - Enterprise risk at its highest level

July 23, 2010

With news on Apple Computer’s iPad and iPhone filling the business press, where is the news about other new business initiatives?

3,000,000. 3 months following the iPad’s introduction, 3 million units were sold. Assuming the top price point for each sale, this generated $3 billion in revenue. While this is good news for Apple and its shareholders, it accounted for less than a dimple in the nation’s Gross Domestic Product.

4. Close on the heels of the iPad launch, the business press heralded the iPhone 4 launch as if Apple had invented language rather than adding just one more communications device to an already crowded market.

2. Two years after a presidential campaign that tirelessly covered the need for a revival of US industry and innovation, we want to hear more news about average working men and women who are working just as tirelessly to bring us closer to these goals.

5,000,000. This is the number of vehicles General Motors sold in the US in 1999. 10 years later, this number had fallen to 2,000,000. Following its reorganization for bankruptcy in 2009, the company eliminated more than 20,000 jobs.

14,600,000. BLS reports this number of unemployed Americans. Some private research firms place the number at more than double that figure. This could mean more than 25,000,000 Americans are out of work as you read this e-mail.

Risk management. As risk managers, we see risk in these numbers. But, as business managers, we see great opportunity for those companies that help to engineer our economic revival and put these people back to work.

There has to be an app for this. iPhone apps, although they are clever and at times useful, do not lessen the risk to our American experiment. As American companies and workers continue the hard work of creating new jobs with innovative products, processes and technologies the risk will subside.

300,000,000. Whatever you are counting, that’s a big number. In this instance it is the number of Americans. Multiply that number by hard work, sacrifice, perseverance and shared purpose, and risk management will win the day.

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About KMRD Partners, Inc. – KMRD Partners, Inc. is a full service Property & Casualty broker serving the commercial property and casualty insurance market from offices in the Philadelphia, PA region.  Their mission statement, “Making a difference by Managing the Cost of Risk”, is a unique approach that focuses not just on insurance placement, but coverage expertise, service accountability, client education and risk management.

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