Managing Risks
Managing Risks...from Vine to Wine.
What keeps grape growers awake at night? Whether its falling prices or falling temperatures, the Washington Wine Industry Foundation seeks to assist Northwest wine and juice grape growers in addressing their risks associated with productivity, profitability, and accessibility to markets. To date, over a million dollars has been raised via public and private partnerships to support development of a risk management education programs for wine growers and wineries.
“As our industry grows, so do the dollar investments and the subsequent concerns of growers about how to protect those investments,” according to Vicky Scharlau, executive director of the Washington Wine Industry Foundation. “We’re delighted to have the opportunity to work in partnership with USDA and other grape organizations throughout the Northwest. The result is an industry better prepared to face the challenges and opportunities in an uncertain future.”
A fundamental component of the risk management education programs is development and utilization of “Vinewise” to identify subject-specific questions industry members can ask in both assessing and addressing risks relative to their own operations. While the questions are fairly standard among industry members, the answers are relatively unique to each business. Applying “Vinewise” as a management tool is handy whether you are entering the industry and wondering what questions asking or for seasoned members seeking to improve their operations or assess their current risks.
Each “Vinewise” chapter:
· Identifies key questions
· Presents a checklist of things to/not do
· Outlines stages of “risk readiness” -- indicating to what degree a particular risk is managed
· Lists key definitions and acronyms
· Provides resources available for more information
Through the Wine Industry Foundation, the grape industry utilizes a team of experts to coordinate the on-going risk management education programs. Most of the projects rely on a project- or topic-specific Advisory Teams comprised of growers and winery personnel along with supporting professionals and subject experts. The advisors help the team develop practical risk management education efforts and guide outreach and implementation.
See more at: www.vinewise.org
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