What is risk? Think about it before you leap to answer. Do we really know and understand risk? Some facts to consider:
Last week saw the latest in misguided innovation talkfests, the AFR Innovation Summit #Innovation16. For several days academics, public servants, journalists, and corporate employees put forward their insights into how Australia can develop an Innovation culture.
Excuse me, but this is a bit like 3 high street bankers sitting around discussing the plight of the homeless. Very few of these self-appointed experts have ever started a business let alone been directly responsible for innovation in the marketplace. Continue reading
From the publicly-traded, multi-national conglomerates, to Girl Scouts selling their cookies (Thin-Mints rule), to the budding entrepreneur who opens a lemonade stand – and everything in between – there are all manner of companies and individuals offering a near infinite variety of products and services. And about as diverse as the companies and their offerings are, are the ways in which they attempt to build awareness (and the hoped-for resultant sales). Continue reading
I have often been asked to provide insight into the management of shared risks, particularly by those working in Commonwealth Government Departments.
Element 7 of the Commonwealth Risk Management Policy states that: each entity must implement arrangements to understand and contribute to the management of shared risks. It goes onto to define shared risks as: those risks extending beyond a single entity which require shared oversight and management. Accountability and responsibility for the management of shared risks must include any risks that extend across entities and may involve other sectors, community, industry or other jurisdictions. Continue reading
A leading electronics company suffered a setback when a systems engineer was pushing his own ideas hard, all the while belittling the ideas of others. It was clear to everyone he thought highly of his own ideas and expertise and not much of everyone else’s. The irony is that his approach for developing an important new product was actually great but ended up rejected because he alienated the rest of the team. Continue reading