Managing Legal Risks
The other day, I had a chat with a risk management consulting colleague who was working with and focusing on legal risks. He had trouble doing this well as he found that people with a legal background:
• Have limited or no insights into statistics
• Rarely, if ever, work with a spreadsheet
• Find it hard to quantify risks and opportunities
Heat Maps and Risk Management
Heatmaps are commonly used as reporting and discussion tools in risk management. However, there are two different types/categories of heatmaps, only one of which is useful.
Dangerous Data
Over the years, I have advocated vigorously for the use of facts and data when analysing and assessing risks, uncertainties and levers. I fully stand by this and will continue advocating for using data as well as I firmly believe there really is no such thing as “qualitative analysis”.
Effective Risk Reporting
An important element of risk management is related to risk reporting i.e., how do you convey the results of the risk management process to management.
Starting with the end of the sentence “to management” means the reporting must be defined in such a way and with such content that management finds this relevant and valuable.
Strategic Management in 2024: Key Strategies for Business Success
Strategic management is the cornerstone of business success. It's about setting clear goals, analysing strengths and weaknesses, formulating a robust plan, and executing it flawlessly. From SWOT analysis to balanced scorecards, the right tools can propel your company forward. Embrace this process, and watch your business thrive in today's competitive landscape.
Ownership: The Unsung Hero of Organisational Resilience
Ownership: The unsung hero of organisational resilience. Beyond mere buzzwords, it's the bedrock of thriving in turbulent times. By fostering a culture where every team member feels invested, companies unleash creativity and adaptability. This collective responsibility, underpinned by trust and leadership, transforms challenges into opportunities for growth and innovation.
Charting the ESG Course: A Guide for Risk Managers
In the turbulent seas of modern business, risk managers must navigate the ESG waters with skill and foresight. From environmental storms to social undercurrents and governance shoals, the challenges are vast. Yet, those who master this new compass can discover untold treasures, steering their organisations towards a prosperous and sustainable future.
From Digital Fortresses to Adaptive Ecosystems: Embracing Cyber Resilience
From digital fortresses to adaptive ecosystems, organisations are embracing cyber resilience to tackle evolving threats. This holistic approach goes beyond prevention, focusing on anticipation, recovery, and adaptation. By fostering cross-functional collaboration, continuous learning, and risk-based strategies, businesses can turn cyber resilience into a competitive edge in our interconnected world.
Balancing Act: The Art of Resilient Growth in Turbulent Times
Navigating turbulent times demands a delicate balance between cost-cutting and resilience. Successful organisations embed continuous cost management into their DNA, prioritising wisely and leveraging data-driven decisions. By fostering a culture of improvement and investing strategically, companies can transform challenges into opportunities, ensuring sustainable growth amidst uncertainty.
Forging Unbreakable Links: The Art of Supply Chain Resilience
Supply chain resilience emerges as a dynamic strategy blending cutting-edge technology, strategic flexibility, and collaborative partnerships. Forward-thinking organisations transform potential vulnerabilities into competitive advantages by embracing adaptive networks, predictive analytics, and proactive risk management techniques.