Risk taking is not just essential it is unavoidable. The other evening, I was waiting at a busy intersection with complicated turning options for vehicles. I saw a green light, took two steps, realised something was wrong and hightailed it back to the curb. Yes, it was the green light for the cars and my
Last month, I provided some tips regarding improving engagement with your risk program through developing your personal skills and building a team of Risk Champions to support you. This month I want to dig a little deeper to expose a key driver to great engagement and that is experiential learning. Because of many people’s poor
They have a saying in the insurance industry: “A lucky underwriter beats a good underwriter any day of the week”. Well, we have it confirmed once again that Australia is the Lucky Country. This time the evidence is provided by APRA in their submission to the Financial System Enquiry on 31 March 2014. In the
Last November in my Risk e-Views newsletter I wrote about a book entitled Administrative Behaviour by Herbert A. Simon. In a nutshell, Simon describes the basis of an organisation as: • A well-defined purpose communicated to staff and other stakeholders. • A series of decisions that affect actions. • Policies, processes and systems to influence
I have long agreed with those in the investment community that argue analysts drive short-term thinking by managers of many publicly listed companies, which in the end destroys value. While reading this article by McKinsey entitled “Building the healthy corporation” I realised that many organisations are now fighting back. McKinsey report that a number of firms