People say “go with the flow” when things are difficult or there is a crisis looming, but why? Only two things go with the flow, dead fish and sh*t.
If we sail a boat, ford a stream, or fly an aircraft we need to account for a ‘flow’ of water or wind. The shortest distance between two points is then a ‘vector’ as we consider the external forces acting on us. Continue reading
Paychex Inc. is a leading provider of payroll, human resources, and benefits outsourcing solutions for small and medium-sized businesses. The organization offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, as well as HR services, including 401(k) plan recordkeeping, health insurance administration, workers’ compensation administration, and time and attendance solutions. Paychex was founded in 1971 and is headquartered in Rochester, New York. The organization has more than 100 offices serving approximately 570,000 clients nationwide. Continue reading
The phrase ‘elephant in the living room’ refers to a major problem that everybody knows is there, but nobody wants to acknowledge. Acknowledging and defining the problem is, of course, the first part of any closed-loop corrective action process. ‘Problem notification’ and ‘problem identification’ are the first two steps in the Automotive Industry Action Group’s Effective Problem Solving for Practitioners process.
General Motors seems to have forgotten this. Continue reading
Risk exists everywhere – the problem is knowing what to focus on. ISO 31000 definition of risk as “the measure of uncertainty in a situation” hasn’t done a lot to clarify what corporate risk means for Directors providing “good corporate governance”.
In this article I address the challenge we face as Directors in dealing with the vast array of risk in a typical large organisation. I explain how to cut through the noise to ensure that corporate risk management actually protects and enhances the business, rather than obscuring critical reality in a fog of detail or a haze of misleading simplification. Continue reading
The Dept of Defence (Australia) assesses capability in 7 categories: Purpose, Environment, Organisation, People, Process, Data, and Material. Below I have used this methodology to lay out the guiding principles for achieving a successful Enterprise Risk Management (ERM) system. Continue reading