IRMRiskForumraisingthegameDJonathanCrook.pptVIP

IRM Risk Forum 2008raising the game Don’t look at me in that tone of voice! Jonathan Crook Housekeeping Fire Phones Breaks Messages Agenda Introduction Why do we NEED business risk Barriers to risk taking Examples of risk taking Encourage risk taking and control risk exposure Workshop – to review your own risk taking culture Feedback Introduction Jon Crook Chartered Engineer 18 years British Rail, Unilever, Sainsburys, Geest Risk Management Consultant 15 yearsGeest, Wilson Lee Partners, Lambert Fenchurch, Bland Bankart, Oval Why do we NEED Business Risk? Risk v Safety Culture Legislation demands we maintain a safe working environment Taking no risks rarely produces profit To achieve success in any field we must:-  work hard, stretch boundaries, think clearly, communicate well and deliver what is needed In other words take some risks Visionaries “I have not failed. I’ve just found 10,000 ways that won’t work.” Thomas Alva Edison (1847 – 1931) “If a man does his best, what else is there?” George S Patton (1885 – 1945) “Obstacles are those frightful things you see when you take your eyes off your goal.” Henry Ford (1863 – 1947) Limited / No Risk Taking Staff not involved / energised / committed Organisation fails v competition Reputation diminishes Less desirable customers / clients Loss of orders Inertia Lack of progress / development Upside Risk Sound Change Management Success / Profit / Orders Product / Service Development Staff develop skills / knowledge / experience Skilled staff excitement, retention recruitment Organisation develops v competition Enhanced Reputation / Impress Customer(s) Customer confidence / commitment / More desirable customers / clients Advertising to / contact a wider customer base Downside Risk People fail Staff are demoralised / dissatisfied Skilled experienced staff leave Organisation fails v competition Reputation is damaged Less desirable customers / clients Loss of orders Barriers to Risk Taking Why don’t we take risks?