Risk management remains an evolving practice across a wide range of sectors and organisations. Typically, the Board of Directors or Board of Trustees wants the organisation to maintain a risk register – one that catalogues the key risks, assigns risk owners, rates each risk and devises proportionate risk mitigations to manage those risks. Some sectorsContinue Reading Business Flexibility meets Risk Management
How much staff specialisation is best? People can become specialists in functions or project teams for a variety of reasons – it can be accidental or deliberate. A generalist may be seconded to do a ‘deep dive’ into a problem, for a prolonged period. They eventually emerge as a specialist – someone with current expertContinue Reading Staff Specialisation
When is the best time to handle loss? Beforehand? Investors put a stop-loss in place. Policy makers put ceiling and floor limits on future activity. Engineers design pressure values. People choose an engagement period and sign pre-nuptial agreements, before they get married. Insurance companies design cover contracts & premiums, after first assessing probability of claimContinue Reading Commitment versus Cutting Your Losses
Organisational Resiliency – 7 questions If the future is highly uncertain, how important is resiliency and what can you do to improve it? Being resilient arguably matters the most when the future is uncertain (in the UK, think of Covid & Brexit combined) – in biology, species survive change thanks in part to their genetic diversity. Continue Reading Organisational Resiliency
The World is obsessed with actions. Stakeholders want them. Accountants value them. Politicians couldn’t survive without them. In Physics, potential energy matters as much as kinetic energy. Employers hire potential, recognising that strength comes not just from proven action, but from having versatility under uncertain conditions. Astute buyers bypass one deal, knowing others will follow.Continue Reading Options versus Actions
Firstly, private sector organisations could usefully reframe their missions from maximizing returns to equity holders, to instead be the reform of something – housing reform, education reform, health reform, transportation reform, transaction reform, distribution reform, FMCG reform, risk reform, entertainment reform etc. A few examples are as follows: The mission for a construction company, buildingContinue Reading Plan and Options Flexibility
It’s been awhile since I last posted. Sorry about that- I put mainly it down to COVID! But speaking of COVID, I wanted to shout out to: the adapters, the researchers, the treaters, the carers and the social distancers. Little kids who struggle to get what the virus is. Teens trying to keep budding romancesContinue Reading Personal Flexibility shout out
Having Flexibility on the outside and the (business) brand at the core makes sense for organisations wanting their clients to experience their own unique version of the brand. Caterers, publishers, movie makers & evangelical religious leaders take this approach. Their clients might say, ‘I don’t know what I want, but I’ll pay good money (andContinue Reading Flexibility and Brands
One method of project and business valuations involves calculating the net present value of a stream of future cash flow estimates. This generates a project or business valuation. Providing this value is higher than the realisable value of the net assets in today’s money, the business is likely to be a going concern. The businessContinue Reading Business Capability and Business Flexibility – how are they related?
As our lives become more VUCA (volatile, uncertain, complex and ambiguous), personal flexibility can be helpful as a coping mechanism. It gives us piece of mind and options. Eventually, many of us will encounter certain life events like; retirement, moving countries, or ‘empty nest’ down-sizing. Such events might help us shed cost and excess physicalContinue Reading Complexity and Personal Flexibility