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Tuesday, August 25, 2015

Capitalism has Spawned Three Classes of Risk Taker

Real Businesses build infrastructure or provide goods and services that enhance the quality of life for people; while providing employment. Their success and often their very survival depends on effective risk management.

Financial Institutions only make money. Their survival and success largely depends on employing other people’s money to make money. While they bear very little risk themselves they allocate most of any profit to themselves; the people whose money they employ bear any losses.

Consultants and Lawyers make a lot of money for themselves by advising others to make decisions (take risks) but take very little risk themselves.

It is Real Businesses that are the builders, the decision makers, the risk takers, the growth makers. Successful Real Businesses benefit societies globally.

Risk is the Context of Life - The Chameleon in the Room
Decision Making is Risk Taking because Outcomes are Unpredictable

The Chameleon in the Room explains risk assessment and management in Real Businesses.

Click this link for more information.

Friday, July 10, 2015

Chameleon in the Room: Embrace Business Risk - Assure Survival & Growth

An innovative new risk book is now available in paperback on, and other Europe based Amazon websites.

It is also available as a Kindle version on all Amazon websites worldwide; including India, Mexico, Brazil, Australia, Japan and Canada.

The paperback and pdf versions are available for sale through the eStoreT3P website; payments are processed by PayPal.

The Chameleon in the Room is unusual as it provides tools specifically designed to manage risks that are often ignored by executives; the same risks that have surprised and fatally wounded many giant enterprises, and countless SMEs.

The 108 pages are full of practical strategies and tactics for the management of the risks that injure real businesses. Real businesses are those that produce, trade, consume or distribute physical commodities, machinery, parts and equipment or consumer products and services.

Please click on this link to read the contents pages and a sample extract from the second chapter:

Particularly addressed are the concerns and responsibilities of quoted company Executive Directors, Non-Executive Directors and ‘C-Suite’ Executives; as well as Owners and Directors of SME businesses and start-up Entrepreneurs.

Additionally Credit Executives may wish to assess their customers in the light of the 'unexpected and highly consequential' and ‘unimaginable’ risks, and associated management practices illustrated in this book.

In the face of rapid change and globalisation, data driven risk management methods alone are no longer adequate. Therefore this text presents alternative ways to cope with the diabolical array of risks that threaten non-financial businesses; including some seldom written about to date for example:
• Black Swan Events,
• Liquidity Risk,
• External Operational Risk,
• Concentration and Correlation Risk, and
• Lack of Flexibility Risk.

Related reference numbers are: ISBN: 9780957627949 / ASIN: B0118E0T84

Friday, June 5, 2015

Redesigning Work, Employment & the Social Contract - a presentation by Heather McGowan

Published on June 4, 2015
Heather McGowan - Academic Entrepreneur and Innovation Strategist

In this 23 minute talk presented in Australia recently, Ms McGowan provides an easy to follow view of the future of work, careers and the skills that will be in demand. It is both amusing and thought provoking. Certainly it is a ‘must see’ video that can be viewed on YouTube via this link:


BarrettWells Credit Resources is a trading name of T3P LIMITED

Tuesday, March 24, 2015

Stellar Book Review of Credit Risk Management - The Novel in The Asset Magazine

In the March 2015 edition of The Asset the Assistant Editor, Christoph Kober, reviews Credit Risk Management – The Novel (Part One).

Here is a short extract:

“In The Novel, Wells presents technical concepts in a manner that is enlightening to anyone interested in how oil majors and traders fuel the world economy. In the sometimes covert world of commodities, the book reveals how large oil majors can do business even with nefarious traders and national oil companies with erratic payment patterns.

Practical advice wrapped in lively accounts of how large commodity deals are brokered make the book a helpful guide not only to credit professionals but treasurers and financial directors as well.

But The Novel also has room for fiction. James “Jim” E Cricket, the head of the team of “creditphiles” at ShamOil, fancies more than just collateral when dealing with risky buyers. World peace is what he really strives for. Jim nearly brokers the smooth fall of the Berlin Wall and the end of Apartheid in a matter of just a few months.

The Novel recounts some of the most dramatic geopolitical events at the end of the 20th century – which of course proved to be watershed moments for the commodities industries as well. Fast forward two decades and geopolitical hotspots throughout the world again keep businesses on their toes. Although set in the 1990s, the solutions presented by Wells were in fact developed more recently, he says, and their applicability today adds to the book’s relevance.

Wells aims to reach an entirely different group of readers with The Novel – students and graduates undecided where to work. “Younger people looking for a career in finance are drawn to investment banking because of the money it offers. I have always found that working in business is much more exciting because real stuff moves as a result of your actions as a credit specialist. There are very few finance programmes that give students exposure to credit risk management in their courses. I hope The Novel can add to this education and show that managing customer and supplier risk in a real business is an exciting career opportunity.”

Credit Risk Management – The Novel, Part One (2013) is published by T3P LIMITED and available for purchase at Amazon.
ISBN: 978-0-9576279-2-5, 104 pages

To read the whole Book Review click:

To subscribe to The Asset click:

Sunday, March 15, 2015

A Global Shortage of Required Skills Threatens Prosperity in the lead up to and post 2030

A study by Rainer Strack presented in an amusing TED Talk indicates that by 2030, many of the world's largest economies will have more jobs than adult citizens to do those jobs.

What is worse there will be a global shortage of people with the skills to fill those jobs. In order to view this 12 minute talk click this link:

Using the example of Germany, Strack illustrates that despite the global population ballooning to about 8.5 billion by 2030 the working age populations in major producing countries will have shrunk. The situation in Germany is illustrated here, bearing in mind that the demographic profile utilised exists so the 2030 position is accurately predicted; ignoring immigration/emigration and any unfortunate calamity that may occur.

The same exercise applied to other major producing nations indicates the seriousness of the situation:

Of course the skill distribution amongst the working age population versus the needs of these economies in 2030 is more important than simple numbers.

In this talk Strack describes the Skills Mismatch that will surface despite the use of robots and other artificial intelligence in the manufacturing and service sectors. He points to the motor manufacturing industry as an area that has adopted technology to more or less replace people on the production line but has spawned associated jobs, such that more or less the same numbers of people are now involved in the process. However those new jobs require very different skill sets.

This leads to the conclusion that the global community needs to take urgent steps to ensure a suitably equipped workforce is available to maintain global GDP at adequate levels in the future. The reduction in workforce coupled with a probable skills mismatch threatens the prosperity of future generations if action is not initiated without delay.

Thursday, March 5, 2015

Real Businesses - The Success Paradox

Inventories grow
Receivables thrive
Payables vegetate
Liquidity withers

Frozen Working Capital
Inventory minus Payables
Plus Receivables
Sucks up cash
Locks it out of reach
It is a Greedy Beast

Business growth is Success
But it feeds the Greedy Beast
Beware the spectre of Liquidity Risk
The bedfellow of Bankruptcy

Reduce inventory days
Increase payable terms
Shrink receivable days
Release oodles of loot
Rein in the Greedy Brute

Tuesday, January 13, 2015

Credit Management Magazine has Reviewed ‘Credit Risk Management – The Novel’

“This is the first narrative non-fiction novel to feature the true to life experiences of a team of professionals managing business-to-business credit risk, day-to-day. This is a ‘difficult to put down’ book, not one to gather dust on your shelf, or occasionally use for reference. There are a number of case studies that might pass you by, but will probably become relevant and applicable at some stage of your career.

Hard to imagine though it may be this is a credit management book featuring action. There are real life questions for the credit team to deal with. The team solves day-today problems in practical ways and discusses general issues as they add value constructively. There are interesting twists and turns, characters are developed, fascinating places are visited, and little known facts emerge. James and his colleague Jenny manage the credit risk for a global enterprise, and at the same time share their experience and knowledge to fellow team members and the reader. Great fun”

Credit Management Magazine is the journal of the CHARTERED INSTITUTE OF CREDIT MANAGEMENT
The Recognised Standard in Credit Management
December 2014
To read page 10 of the December issue, click here
© Chartered Institute of Credit Management