Category Archives: Decisions@Risk™

#396 – END OF BIG BUSINESS AS WE KNOW IT – GREG HUTCHINS

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The system is not working. That is how a paradigm shift begins: the established way of seeing the world no longer functions.
Matthew Fox – American Actor

COVID has created some big business winners. But, post-COVID it’s the end of many companies as we know them:

“The Coronavirus pandemic brought the global economy to a screeching halt this spring (2020), sparking fears of a corporate bloodbath. As the year ends, it’s clear that the crisis has rewired the economy in surprising ways and served up unexpected opportunities for some big businesses to prosper.” Continue reading →

#395 – MANUFACTURERS IDENTIFY TOP CHALLENGES THEY EXPECT TO FACE – MEGEAN BLUM/NICO THOMAS

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When Nico asked me if I wanted to collaborate on this year’s challenges blog, my second thought after agreeing to the idea was a scene from the 2007 film “Music and Lyrics,” which I likely have not seen since approximately 2008. Why this popped into my head is unknown but ha! POP! I had forgotten that was the name of Hugh Grant’s singing group and part of the title of their hit song. Continue reading →

#395 – CLIMATE CHANGE OR GLOBAL EXTINCTION? – GREG HUTCHINS

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Is climate change humanity’s greatest ever risk management failure?
The Guardian newspaper

Climate change. Global warming. These are the ‘new normal’ or the ultimate ‘Horsemen of the Apocalypse’. U.S. intelligence report said:

“Global environmental and ecological degradation, as well as climate change, are likely to fuel competition for resources, economic distress, and social discontent through 2019 and beyond. Climate hazards such as extreme weather, higher temperatures, droughts, floods, wildfires, storms, sea level rise, soil degradation, and acidifying oceans are intensifying, threatening infrastructure, health, and water and food security.” Continue reading →

#394 – WHAT SHOULD AN AWESOME RISK REPORT LOOK LIKE? – ALEX SIDORENKO

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Companies and regulators love reports, disclosures and transparency. And nobody loves risk reporting more than me. Trouble is risk reports are RM1. If we wanted to really make a difference to decision makers we would switch from risk reporting to risk-adjusted performance reporting instead. Risk managers always have a choice: generate own risk reports or use the outputs of risk analysis to improve existing performance and management reports instead. To me the choice is clear. Integrating risk information into existing management reporting is the future. So, what should risk-adjusted performance report look like? Continue reading →

#394 – WHICH IS STRONGER: OUTSIDE PRESSURE TO CHANGE? OR, YOUR INTERNAL DRIVE TO TRANSFORM – DANIEL BURRUS

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There are two mindsets surrounding the concepts of transformation and change. First, there is fear that comes with transformation and change. The feeling of not having control over something in your personal or professional life can be daunting, because it leaves us feeling helpless. And the second mindset is an apathetic, hands-off one. This is where the concepts of transformation and change seem so insurmountable that we accept them passively. Continue reading →