The ability to distinguish between risks and issues is one of the most fundamental skills a manager needs in order to effectively manage their business.
Posting about the idea that anyone that has a customer facing business with a diverse customer set should look at risk assessing the customer base. So what does this involve? Essentially this involves considering the customer "factors" and using some form of statistical analysis to "grade" the customers.
Innovation is expected and required for any business or function to grow and develop over time. The risk management function is no different, hence risk must embrace innovation.
Effective risk management is like putting together a three course meal. This analogy may sound a little strange but bear with me as I take you through the tips for the chef (manager).
We all think that innovation begins with innovation itself, but that is incorrect. Innovation must begin with the single most important aspect of any part of business and that is accountability.
I am going to list the things we have to do before the Innovation of Risk kicks the bucket! More precisely I am going to list the things that have to happen so that the Risk Manager can kick the bucket in his/her current form and shift to a new form entirely.
Hello fellow Innovators of Risk!
It has been quite a while since my last post.
The Innovation of Risk has not disappeared but rather has gone into a period of "thinking".
During this period of thinking I...