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...people who accomplish the most are rarely the most visionary, just the most ex...the venture, those involved become conservators of the status quo. They provi...

...ons. In my experience, it’s rare than anyone answers the “what do...t markets. Michael has written twelve books, mainly on professional communicat...

... find, however, that this trait is rarely considered. 2. Ability to be a team ...ency’s balance sheet? Is the agency’s book of business, or are other assets, p...

...risk-management program. Except in rare instances, the purchasing officer shou... Firms with many locations may want a book of instructions on how to handle cl...

... voice of practicality asks, ‘What good will that do? ' The voice of adventure answers: ‘I don't know — I just know I'm going to try.' His column closes with these words: The people who accomplish the most are rarely the most visionary, just the most experimentary, the ones who say: ‘I don't know. Let's do it anyway.' Sandwiched between this beginning and end is a most interesting observation. However, most creativity is not about seeing the future; ... dialogue, and debate — jump in the water, pull the trigger, charge, take action, Just do it! Go experimentary! My experience indicates that many leaders have an idea or realize that they must do something new. After all, the latest business books or the last seminar leader talked about change and the need for innovation. They're leaders on the cutting end of studying change. They'll innovate. But just to be on the safe side (you know, prudent) they'll conduct a due diligence, take a ... DUE DILIGENCE ISN'T A STRATEGY! PARALYSIS BY ANALYSIS by Mike Manes Due diligence is a process that allows everyone involved to CYA (a military term that means cover your assets') . Rather than being a pioneer or adventurer and supporting the venture, those involved become conservators of the status quo. Mike Manes tells you why you should build systems that reward innovation and facilitate experimentation, action, and refinement. Dale Dauten, the Corporate Curmudgeon, ' is one of my favorite writers. His weekly syndicated Corporate Curmudgeon, column, ...

... than passbook savings accounts. Many Life agents who entered the business in the 1950s through the 70s came to believe in the sanctity of the ever-increasing dividend scale. The longer you kept the policy, the better it got; dividend scales in general never went down, rarely leveled out, but just kept going up. So it's understandable that long-standing traditional agents didn't question the continued rise in dividend scales as interest rates in the economy began to decline. Although mathematically legitimate (a composite portfolio rate will continue to rise until the current ... earnest in 1988. As interest rates and dividend scales began to move in the same direction, the Life insurance industry felt intense economic pressure. Older bonds with 4% -6% yields were worth a fraction of their purchase price, but were carried on the books' at their original value. Companies could borrow money and add it to their capital account, but not count it as a liability (surplus relief) . These and other accounting traditions from calmer days were working against the health of the Life industry of the ... (Kentucky Central, Fidelity Mutual, and Confederation Life as the most notable examples), a combination of regulatory changes, carrier rehabilitations, and the continued drop in interest rates allowed the industry to recover. The 1980s were the turning point in what had been a conservative and — dare we say it — dull industry that began in the early 1700s. But by 1991, there was nothing dull about Life insurance! For all the pain, disappointment, and economic loss, policyholders were still covered by trillions of dollars of death ...

... necessary objectivity and financial skills. Purchasing Officer. In the past, the purchasing officer often had the responsibility of buying insurance. It's now more clearly understood that insurance is not a commodity to be purchased, but an element of a total risk-management program. Except in rare instances, the purchasing officer should have little or nothing to do with insurance or risk management. Chief Engineer. The chief of public works, chief engineer, or similar official may be responsible for maintaining building values and informing the risk manager of any changes-deletions or ... valuations, broken down by location Insurance policies, current and expired File of management decisions On larger properties, building layouts showing fire separations Files of correspondence and telephone calls concerning coverage and other important subjects Creation of Risk Management Manuals. Firms with many locations may want a book of instructions on how to handle claims, details on use of personal autos, how to report values, what to do about insurance inspectors, and so forth. Communications. Risk managers must let their superior know what they're doing and why-usually by means of a ... formal report. They must also communicate to others in the organization and get their cooperation in carrying out their portions of the risk-management function. Accounting. In larger entities, the risk manager will be involved in developing charges to various divisions or cost centers. Much of this takes informed judgment. Loss Prevention. Though they can't be an expert in all phases of loss prevention, risk managers should have general knowledge backed by their own loss information. This should enable them to determine the best method of obtaining what loss-prevention counsel is needed ...