ASQ recently had a good/great piece on risk management called: “Managing Risk in a Volatile Economy.”
What was interesting about it?
Volatility or we what we call VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) is here to stay. We are seeing in it in the economy, safety, stock market, weather, work, and in all areas.
ASQ, formerly known as American Society for Quality, is among a number of associations that is embracing ‘risk management’ as a game changer for the association. We are seeing a number of associations and organizations throughout the world realizing that they must be current and relevant to their members. How? They are incorporating enterprise risk management (ERM) principles and practices into their Body of Knowledge. Or, some are totally rebranding to become ERM organizations or societies.
ERM is the best way to align risk goals with business strategy. ERM can be used manage volatility and VUCA. ERM can be used to comply with requirements. ERM is also critical to good governance, risk and compliance.
The price of products and services are also very critical. Contextual pricing is critical to retaining customers. Remember, retaining a customer is far less costly than finding a new one.
Quality is very critical. A company can partner with suppliers on quality by maintaining high standards and managing the cost of quality.
Here’s the URL to the piece.
http://asq.org/qualitynews/qnt/execute/displaySetup?newsID=15371&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%253A+AsqHeadlinesMinus+%2528ASQ+Headlines+Minus%2529
Who knows, risk may be the future of quality which is our tagline:
Future of Quality: Risk™
Bio:
Greg Hutchins PE and CERM (503.233.101 & GregH@QualityPlusEngineering.com) is the founder of:
CERMAcademy.com
800Compete.com
QualityPlusEngineering.com
WorkingIt.com
He is the evangelist behind Future of Quality: Risk®. He is currently working on the Future of Work and machine learning projects.
He is a frequent speaker and expert on Supply Chain Risk Management and cyber security. His current books available on all platform are shown below:
