I was surprised this week by a New York Times article: FAA Orders Airlines to Devise Plans to Identify Risks.
What’s the driver for these risk assessments? The International Civil Aviation Association (ICAO) is part of the United Nations. ICAO rules impact 191 countries. The US Federal Aviation Administration (FAA) is the US signatory to ICAO. As such, they are now mandating airlines to develop risk based plans, which are also called Safety Management Systems. Continue reading
Daniel Burrus (“Three Potent Secrets to Innovation”, CERM Risks Insights # 74, January 2, 2015) gives us some guidelines out of the intricacies and the paths out from labyrinth to true Innovation.
Burrus’s article seems to summarize Charles Duhigg’s book “The Power of Habit”. Continue reading
Back in the days before electronic communication, modern companies and even accurate maps, the way of sailing ships first communication was the flags or colors the ship carried on the highest masthead.
These were so important, that a critical part of a ship was the crow’s nest. In daylight hours, a man’s full time duty was to scour the horizon in all directions to see if another ship or bad weather was approaching. With weather, one could batten down the hatches and sail through the storm or try to sail around it. Continue reading
Art Stewart has been operating in the strategic management, leadership and corporate responsibility space for over 25 years. He currently heads his second consulting practice that is gearing up for a hard launch in Q1 2015. In his former role as vice president of corporate development for a Boston-headquartered global management consulting firm, and earlier as President of his first consulting firm, he worked with a wide range of organizations all grappling with aspects of ethics, accountability, human capital impact, social consciousness, and other components of corporate responsibility and sustainability. Continue reading
No, ubiquitous RBT isn’t a new rap group. It’s a more of a reality show. While risk permeates every aspect of life, risk-based thinking (RBT) is applied anywhere good sense is needed to deal with risk. Each risk recognized offers an opportunity to apply RBT. Continue reading