“One basic approach–offered here by way of illustration only–is to ask the question: what relatively minor changes in product, technology, process, market, and so on, would significantly improve or alter the economic characteristics and results of this business?”

Peter Drucker, People and Performance: The Best of Peter Drucker on Management at 33  (1977).

As we have discussed before, the key to improvement is almost never overhaul. Instead, it’s incremental change.

Risk Tips is a periodic posting on the Risk Alternatives blog. Here, we share some of our favorite thinkers’ favorite thoughts (and a few of our own). Please buy the books we quote: we want you to build your library of risk management and process improvement gems. To find out more about risk management, start here.