Creating a risk focused organisation by peter chisambara
2 likes3,641 views
The document discusses the importance of creating a risk-focused organization to effectively navigate uncertainties in today's changing business landscape. It outlines various types of risks including strategic, operational, financial, environmental, and social risks, emphasizing that risk management should involve contributions from all employees, not just senior management. Recommendations include promoting ongoing risk monitoring, shifting away from siloed thinking, and prioritizing employee training and education.
Creating a risk focused organisation by peter chisambara
- 1. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] Creating a Risk-Focused Organisation by Peter Chisambara Best Content from Global Risk Community
- 2. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] Creating a Risk-Focused Organisation by Peter Chisambara THE NATURE AND TYPE OF RISKS FACING THE ORGANISATION: One of the main challenges facing managers in today's constantly changing business environment is dealing with uncertainty and creating a risk-focused culture within their organisations.
- 3. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] UNCERTAINTY This uncertainty has the possibility of creating or destroying customer value and shareholder value, strengthening or weakening brand reputation and above all increasing or decreasing the organisation's competitive advantage. Creating a Risk-Focused Organisation by Peter Chisambara
- 4. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] RISK-FOCUSED CULTURE WITHIN THEIR ORGANISATIONS Understanding the nature and type of risks facing the organisation is the starting point to a successful creation of a risk-focused organisation. With an ever changing business environment comes an increased number of risks. Creating a Risk-Focused Organisation by Peter Chisambara
- 5. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] Creating a Risk-Focused Organisation by Peter Chisambara IDENTIFYING THESE RISKS IS BY GROUPING THEM INTO THE FOLLOWING SUB-CATEGORIES STRATEGIC RISK OPERATIONAL RISK FINANCIAL RISK LEGAL RISK ENVIRONMENTA L RISK SOCIAL RISK
- 6. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] This involves analysing and evaluating the effect of competition, customer changes, industry changes, global expansion, potential mergers and acquisitions, product mix, markets and locations of operations on the business. Strategic Risk Creating a Risk-Focused Organisation by Peter Chisambara
- 7. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] Creating a Risk-Focused Organisation by Peter Chisambara Operational Risk This involves analysing and evaluating the ways in which the organisation achieves its goals and objectives. In other words, you are looking at the daily activities and processes and identifying whether they are still viable or they need improvement.
- 8. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] Creating a Risk-Focused Organisation by Peter Chisambara Financial risk This is risk pertaining to regulation, compliances and lawsuits for an organization. This also involves identifying all the rules and regulations that the organisation is bound to, ensure that they are being followed to avoid paying non-compliance penalties. The starting point could involve looking at your industry standards set by your industry's regulators.
- 9. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] Environmental risk Creating a Risk-Focused Organisation by Peter Chisambara This involves looking at levels of your carbon footprint, pollution levels (noise, odours and light), environmental compliance in all locations, natural resources damage and ongoing monitoring and management.
- 10. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] Social risk Creating a Risk-Focused Organisation by Peter Chisambara This looks at your organisation's impact on human beings, both from an internal and external perspective. Areas investigated may include, anti- discrimination policies, safety of products, product reliability and quality, sexual harassment concerns, training and education of employees and hiring and promotion practices. The key is developing and maintaining a positive relationship with both your internal and external stakeholders.
- 11. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] Making Risk Management Every Employee's Everyday Business Creating a Risk-Focused Organisation by Peter Chisambara The process of identifying, analysing, evaluating and managing risks within the organisation should not be solely left in the hands of senior personnel. Although senior management have the overall say in the deciding the destiny of the business, they might not possess all the knowledge about the risks facing the business. Thus they need the input of other management personnel and the employees.
- 12. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] Creating a Risk-Focused Organisation by Peter Chisambara IN CREATING A RISK-FOCUSED CULTURE, MANAGERS SHOULD: #Move away from a silo-based thinking of managing risks. #Promote ongoing monitoring and management of risks. #Encourage training and education of employees.
- 13. WEBSITE: http://globalriskcommunity.com/ EMAIL: [email protected] Sign up NOW using this personal invitation link http://globalriskcommunity.com/?xgi=0QLXOKRG13ye0O PS: Below are just some of our popular content and discussions published on our site: (accessible only for members. Registration is Free and takes only 1 minute). Employment trends and Salary Insights http://globalriskcommunity.com/profiles/blogs/2013-salary-insights Case studies, whitepapers and free research of the week: http://globalriskcommunity.com/profiles/blogs/case-studies-whitepapers-and Complimentary Trade Magazine Subscriptions & Technical Documents: http://globalriskcommunity.com/profiles/blogs/trademagazines Join our community to get new business, new contacts, jobs, latest news and to exchange ideas