The 52 Risks® framework has been featured in the Governance Institute of Australia’s Risk Management For Directors: A Guide, released this month. The guide is plain English, no-nonsense guide to risk management for directors.
The guide provides practical advice boards can adopt to manage risk and includes sections on risk governance, the regulatory environment, risk management processes and tools, risk culture and topical non-financial and emerging risks.Read More
Start-up ventures face unique business challenges. They are, by their nature, smaller enterprises without the established management or financial resources of larger, established businesses. Most start-up ventures today are almost 100% technology firms, with business models built around software and technology-driven operational processes.
For start-ups and tech firms, 52 Risks® provides a starting list of high-level risk categories to consider. This can be used in the design stage or in the early pilot / start-up phases. The 52 Risks® framework can also be used as a business expands and grows with more customers, new geographic areas and new products and customer segments.
52 Risks® assist founders and business leaders – that may not have access to specialized risk management expertise – better understand their risks.Read More
There is little doubt that challenges will face all businesses in 2022.
The 52 Risks® framework can be used to assist business owners, executives and risk managers gain a deeper understanding of the risks that any business may face. This will enable growth and stronger, more reliant businesses.
Below are 22 ways in which the 52 Risks® framework can facilitate the discussion and oversight of risk in any business.
52 Risks® is a unique, innovative framework designed to assist organizations identify, assess and manage their business risks. 52 Risks® proposes a common language and terminology for business risks in a consistent manner. It is an enterprise risk management framework comprises 17 Strategic Risks, 16 Financial Risks and 19 Operational Risks. All potential business risks will map to one of these risk categories.Read More
Often the cut and thrust of daily business life gets in the way of sitting back and taking stock of risks in a business. Distractions can take the form of putting out spot fires, negotiating contracts, resolving issues with customers, dealing with projects, or managing personnel matters.
Taking stock of the overall risk profile of an organization, assessing how effective existing risk management strategies are, and considering new or emerging risks often never takes place.
Business leaders should carve out time periodically to take stock of the risks in their business and look at how they manage them.
Getting started in risk management or uplifting existing capability can be daunting for any business, irrespective of size or industry. This post outlines six steps for improving the management of risk using the 52 Risks® framework.Read More
Business owners, boards and managers should ensure that they have a detailed understanding all the risks their business faces. This should include all strategic, financial, and operational risks. This understanding should be underpinned by a rigorous and documented risk identification, assessment, and management regime.Read More
The 52 Risks® framework has a multitude of uses. It can be used to assist business owners, executives and risk managers gain a deeper understanding of the risks that any business may face. Here are 21 ideas than can re-energise the discussion and oversight of risk in any business:Read More
In both normal times and uncertain times, policies and procedures seek to give all employees support in the carriage of business activities. The current COVID-19/coronavirus social and economic crisis is, however, putting to the test existing, proven and robust policies and procures in all organisationsRead More
Pandemics (or near pandemics) are infrequent occurrences and appear to have varied in their nature and impact. The longer-term impact from the supply chain disruptions, any economic slowdown, and financial markets dislocation is often unclear. There should be three distinct areas of focus and consideration by business owners and managers in such a period of disruption and uncertainty.Read More
Enterprise Risk Management (ERM) within organizations continues to be work in progress. More and more organizations are embedding tools and risk management techniques each year.Read More
A little-known concept prior to the financial meltdown that consumed the global financial system in 2008 was stress testing. Stress testing for banks and financial institutions was in its infancy prior to the Global Financial Crisis.Read More
Peter Deans Follow
Strategy & Risk Adviser I Former Chief Risk Officer I Creator & Founder https://t.co/ojgRxRgZD8 I Follow me for strategy, risk, management and economics stories & articles.
Horrified by this brutal attack on Salman. Yes, he's revered the world over as a brilliant writer + fearless champion of free speech, but to us, his pals, he's also our funny, kind, charming, loyal, mischievous + wonderfully dear friend. Please let him be ok. #SalmanRushdie
Sat on a problem at the desk for ages yesterday. Morning walk and solutions flow. Move the body. Move the mind. 🚶🏻♂️🧠
From a global and regional perspective, conflict between USA, China and Taiwan is truly unthinkable.
However unpalatable the prospects of this, it is important for business and risk leaders to think about the ramifications for th…https://lnkd.in/gc2F8Uu9 https://lnkd.in/gH_X25UA