Risk Management, a Business Fundamental

and how young Boy Scouts 11 to 18 years of age

seem to know more about this

with their Boy Scout Motto of ‘Be Prepared’

than business leaders, executives and managers

COMMENTARY

By Michael Marshall, PhD

Atlanta, Georgia, USA

Today’s issues with Supply Chain and Product Shortages show us that Businesses have failed with ‘Be Prepared’ and ‘Risk Management’

In 1907, Baden Powell, an English soldier, established and wrote the Boy Scout Motto of “Be Prepared’.

This was published in the Boy Scout Handbook in 1908 and in 1910 the international organization of Boy Scouts was established.

This organization trains and promotes the motto of ‘Be Prepared’ and is a fundamental for all young Boy Scouts with the approximate ages of 11 to 18 years of age.

The organization has grown to over 30 million Boy Scouts in over 161 countries and they are trained in ‘Always Be Prepared’.

‘Be Prepared’ means to be ready and able to react to any situation or emergency.

The Boy Scouts have ranks to advance up through with learning more skills (similar to advancing up through higher level university degrees) and they can earn special merit badges to obtain additional skills and knowledge (similar to continually participating in additional specialized workshops and certifications).

All being able to utilize in real life and later in a career and business.

How is it, that over 30 million young adults 11 to 18 years of age globally who are Boy Scouts are well trained in the motto of ‘Be Prepared’ and yet highly paid business leaders, executives and managers may not be trained in and NOT competent in, ‘Be Prepared’ which in business is referred to as ‘Risk Management’? ?

When I teach university level business classes and economics classes, this is a fundamental taught in my classes.  There are extensive questions and essay questions on my class exams that covers this subject of ‘Risk Management’ and ‘Be Prepared’.

Students who did not pay attention in class and with assignments to learn this important subject will receive a Failing Grade in my class.

I cannot say that all universities and colleges teach to this higher standard to include this important business fundamental.

This is part of the problem.

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How to cite this article: Marshall, M. (2022).  Risk Management, a Business Fundamental, and how young Boy Scouts 11 to 18 years of age seem to know more about this with their Boy Scout Motto of ‘Be Prepared’ than business leaders, executives and managers, PM World Journal, Vol. XI, Issue III, March. Available online at https://pmworldlibrary.net/wp-content/uploads/2022/03/pmwj115-Mar2022-Marshall-risk-management-a-business-fundamental-and-boy-scouts.pdf

About the Author

Michael Marshall, PhD

Atlanta, Georgia, USA

Michael Marshall has over 40 years of business experience to senior leadership levels and advisory/consulting in many markets and industries, national and global, with responsibilities in sales management, marketing and business development along with a PhD in business, MBA and degrees in psychology and social human behavior before teaching internationally at university level (China, Korea, Vietnam, Saudi Arabia, United States) and US Embassy. He has over 58 professional business certifications to keep highly competent. Michael continually seeks out knowledge with additional education, trainings, research, and experience, to keep on the leading edge of business effectiveness and business development. He has over 48 international publishing’s on many business and business development subjects.

He can be contacted at mmarshall1236@gmail.com

To view other works by Michael Marshall, visit his author showcase in the PM World Library at https://pmworldlibrary.net/authors/michael-marshall-phd/