Occupational health and safety risk leverages the uncertain of the consequence based on probability of occurrence. There are several essential parts including risk pre-appraisal and appraisal, risk communication, risk assessment, and finally risk management. Understanding each component helps push the management agenda forward toward improving human performance, profitability and prosperity. This agenda can be sustainable over time if there's a vertical up and down relationship in the commitment, development, implementation, and enforcement of established policy, written program, and standard operating procedures. A platform with GRI metrics can be used to evaluate outcomes based on strategic goals.
Occupational health and safety risk leverages the uncertain of the consequence based on probability of occurrence. There are several essential parts including risk pre-appraisal and appraisal, risk communication, risk assessment, and finally risk management. Understanding each component helps push the management agenda forward toward improving human performance, profitability and prosperity. This agenda can be sustainable over time if there's a vertical up and down relationship in the commitment, development, implementation, and enforcement of established policy, written program, and standard operating procedures. A platform with GRI metrics can be used to evaluate outcomes based on strategic goals.
Understanding and Managing Risk
For more information about our leadership and risk management and assessment courses please call: 0121 707 0550 or e-mail: info@pathwaygroup.co.uk
MODULE 1:
Definition of Risk and uncertainty- Classification of Risk, Sources of Risk-external and internal. Risk Management-nature, risk analysis, planning, control and transfer of risk, Administration of properties of an enterprise, provision of adequate security arrangements. Interface between Risk and Insurance- Risk identification, evaluation and management techniques, Risk avoidance, Retention and transfer, Selecti9on and implementation of Techniques. Various terminology, perils, clauses and risk covers.
If there was a man-made or natural disaster, how would your business respond? Do you have a contingency plan in place? What kind of financial and economic impact would a disaster have on your business? As you can see, there are many questions that need rock solid answers, regardless of the type of loss. Business contingency planning and emergency preparedness and readiness strategies plan an important role in determining if a business will survive and thrive in the face of adversity. Learn more about proper planning and execution. For more information contact the consultants at The Windsor Consulting Group, Inc. We have seen or been through many emergency situations with our customers. Let us show you how to be ready when disaster strikes.
Cathy Hauslein - Susser Holdings, Speaker at the marcus evans CFO Summit Fall 2011 in Las Vegas, NV, delivered her presentation entitled Finance is Risky Business: Monitoring and Managing Your Company’s Risk Appetite
In cooperation with Safehotels Alliance AB, ICCA has developed a white paper designed for association executives to plan, prepare, manage, and recover from any crisis situation. The paper equally provides crisis management direction and guidelines to meetings management companies an association is engaged with i.e. Association Management Companies (AMCs), Professional Congress Organisers (PCOs), Destination Management Companies (DMCs), Hotel and Conference Venues
Financial risk management is the practice of protecting economic value in a firm by using financial instruments to manage exposure to risk: operational risk, credit risk and market risk, foreign exchange risk, shape risk, volatility risk, liquidity risk, inflation risk, business risk, legal risk, reputational risk, sector risk etc. Similar to general risk management, financial risk management requires identifying its sources, measuring it, and plans to address them.
Financial risk management can be qualitative and quantitative. As a specialization of risk management, financial risk management focuses on when and how to hedge using financial instruments to manage costly exposures to risk.
Understanding and Managing Risk
For more information about our leadership and risk management and assessment courses please call: 0121 707 0550 or e-mail: info@pathwaygroup.co.uk
MODULE 1:
Definition of Risk and uncertainty- Classification of Risk, Sources of Risk-external and internal. Risk Management-nature, risk analysis, planning, control and transfer of risk, Administration of properties of an enterprise, provision of adequate security arrangements. Interface between Risk and Insurance- Risk identification, evaluation and management techniques, Risk avoidance, Retention and transfer, Selecti9on and implementation of Techniques. Various terminology, perils, clauses and risk covers.
If there was a man-made or natural disaster, how would your business respond? Do you have a contingency plan in place? What kind of financial and economic impact would a disaster have on your business? As you can see, there are many questions that need rock solid answers, regardless of the type of loss. Business contingency planning and emergency preparedness and readiness strategies plan an important role in determining if a business will survive and thrive in the face of adversity. Learn more about proper planning and execution. For more information contact the consultants at The Windsor Consulting Group, Inc. We have seen or been through many emergency situations with our customers. Let us show you how to be ready when disaster strikes.
Cathy Hauslein - Susser Holdings, Speaker at the marcus evans CFO Summit Fall 2011 in Las Vegas, NV, delivered her presentation entitled Finance is Risky Business: Monitoring and Managing Your Company’s Risk Appetite
In cooperation with Safehotels Alliance AB, ICCA has developed a white paper designed for association executives to plan, prepare, manage, and recover from any crisis situation. The paper equally provides crisis management direction and guidelines to meetings management companies an association is engaged with i.e. Association Management Companies (AMCs), Professional Congress Organisers (PCOs), Destination Management Companies (DMCs), Hotel and Conference Venues
Financial risk management is the practice of protecting economic value in a firm by using financial instruments to manage exposure to risk: operational risk, credit risk and market risk, foreign exchange risk, shape risk, volatility risk, liquidity risk, inflation risk, business risk, legal risk, reputational risk, sector risk etc. Similar to general risk management, financial risk management requires identifying its sources, measuring it, and plans to address them.
Financial risk management can be qualitative and quantitative. As a specialization of risk management, financial risk management focuses on when and how to hedge using financial instruments to manage costly exposures to risk.
A presentation to Charities Aid Foundation clients - building resilience through effective risk management.Including business continuity planning, cyber risk, social media and more.
STRATEGIC PLANNINGManaging Risks A NewFrameworkby Rob.docxsusanschei
STRATEGIC PLANNING
Managing Risks: A New
Framework
by Robert S. Kaplan and Anette Mikes
FROM THE JUNE 2012 ISSUE
W
Editors’ Note: Since this issue of HBR went to press, JP Morgan, whose risk management practices are
highlighted in this article, revealed significant trading losses at one of its units. The authors provide
their commentary on this turn of events in their contribution to HBR’s Insight Center on Managing
Risky Behavior.
hen Tony Hayward became CEO of BP, in 2007, he vowed to make safety his top
priority. Among the new rules he instituted were the requirements that all
employees use lids on coffee cups while walking and refrain from texting while
driving. Three years later, on Hayward’s watch, the Deepwater Horizon oil rig exploded in the Gulf
of Mexico, causing one of the worst man-made disasters in history. A U.S. investigation commission
attributed the disaster to management failures that crippled “the ability of individuals involved to
identify the risks they faced and to properly evaluate, communicate, and address them.” Hayward’s
story reflects a common problem. Despite all the rhetoric and money invested in it, risk
management is too often treated as a compliance issue that can be solved by drawing up lots of rules
and making sure that all employees follow them. Many such rules, of course, are sensible and do
reduce some risks that could severely damage a company. But rules-based risk management will not
diminish either the likelihood or the impact of a disaster such as Deepwater Horizon, just as it did
not prevent the failure of many financial institutions during the 2007–2008 credit crisis.
Identifying and Managing
Preventable Risks
In this article, we present a new categorization of risk that allows executives to tell which risks can
be managed through a rules-based model and which require alternative approaches. We examine
the individual and organizational challenges inherent in generating open, constructive discussions
about managing the risks related to strategic choices and argue that companies need to anchor these
discussions in their strategy formulation and implementation processes. We conclude by looking at
how organizations can identify and prepare for nonpreventable risks that arise externally to their
strategy and operations.
Managing Risk: Rules or Dialogue?
The first step in creating an effective risk-management system is to understand the qualitative
distinctions among the types of risks that organizations face. Our field research shows that risks fall
into one of three categories. Risk events from any category can be fatal to a company’s strategy and
even to its survival.
Category I: Preventable risks.
These are internal risks, arising from within the organization, that are controllable and ought to be
eliminated or avoided. Examples are the risks from employees’ and managers’ unauthorized, illegal,
unethical, incorrect, or inappropriate actions and the risks from br.
A quick review of those issues that confront both public & private companies, C & S Corps, LLC's, Trusts & Partnerships in today's transparency driven business environment.
Financial Risk Management Strategies to Protect Your BusinessCreditQ1
Financial risk management is a dynamic field that requires the use of modern technologies like blockchain, artificial intelligence, and machine learning. Success comes from transferring to professionals, even in the face of challenges like shifting regulations, complicated financial instruments, and cyber dangers. For complete financial risk management solutions, you can rely on CreditQ as your partner. Explore more @ https://creditq.in/post/why-financial-risk-management-is-important
Becoming Relentlessly Human-Centred in an AI World - Erin Patchell - SocialHR...SocialHRCamp
Speaker: Erin Patchell
Imagine a world where the needs, experiences, and well-being of people— employees and customers — are the focus of integrating technology into our businesses. As HR professionals, what tools exist to leverage AI and technology as a force for both people and profit? How do we influence a culture that takes a human-centred lens?
Accelerating AI Integration with Collaborative Learning - Kinga Petrovai - So...SocialHRCamp
Speaker: Kinga Petrovai
You have the new AI tools, but how can you help your team use them to their full potential? As technology is changing daily, it’s hard to learn and keep up with the latest developments. Help your team amplify their learning with a new collaborative learning approach called the Learning Hive.
This session outlines the Learning Hive approach that sets up collaborations that foster great learning without the need for L&D to produce content. The Learning Hive enables effective knowledge sharing where employees learn from each other and apply this learning to their work, all while building stronger community bonds. This approach amplifies the impact of other learning resources and fosters a culture of continuous learning within the organization.
Watch this expert-led webinar to learn effective tactics that high-volume hiring teams can use right now to attract top talent into their pipeline faster.
Rally Webinar Recruitment Marketing for High Volume Hiring.pdf
23871
1. Crisis & Risk Management
for Companies
Rania A. Azmi
E-mail: rania.a.azmi@gmail.com
University of Alexandria, Department of Business Administration
2. Crisis happens more than
we imagine.
They are not always easy to see
unless they affect our own lives.
3. What is Crisis?
• A crisis is anything that has the potential to
significantly impact an organization.
4. What is Crisis Management?
• The overall coordination of an organization's
response to a crisis, in an effective, timely
manner, with the goal of avoiding or minimizing
damage to the organization's profitability,
reputation, or ability to operate.
• Crisis management involves identifying a crisis,
planning a response to the crisis and confronting
and resolving the crisis.
5. Crisis management objectives
Crisis management has four objectives:
• Reducing tension during the incident;
• Demonstrating corporate commitment and
expertise
• Controlling the flow and accuracy of
information
• Managing resources effectively
6. The Crisis Life Cycle
• Stage one: The Storm Breaks
• Stage two: The Storm Rages
• Stage three: The Storm Passes
7. 1- The Breaking Crisis
• Control seems to be slipping out of the company.
• Lack of solid detail about the crisis. Hard-to-
provide information demanded by the media,
analysts and others.
• Temptation to resort to a short-term focus, to
panic and to speculate.
• For a period of time, everyone loses perspective.
8. 2- Spread and Intensification of Crisis
• Speculation and rumours develop in the
absence of hard facts.
• Third parties- regulators, scientists and other
experts – add weight to the climate of opinion.
• Corporate management comes under intense
scrutiny from internal and external groups.
9. 3- Rebuilding Needs
• To manage reputation. There are opportunities
in a crisis to build positive perceptions of the
company or product that last beyond the crisis
period.
• Company communication/ culture. The
company embarks on a long-term programme to
tackle management issues and communication
problems that exacerbated the crisis.
10. Problems and Challenges in Crisis
Decision-Making
• Surprise and hesitation. The shock of a crisis can create
a delay in response that allows your critics and the
media to fill the gap with negative comment and
speculation.
• Pressure and stress must be channelled by the discipline
of a crisis strategy.
• Mistaking information distribution for communication.
• Treating key audiences as “opponents”.
11. • Good crisis management is essential, but
never a substitute for daily risk
management processes.
• Risk management processes should apply
to all customers, although depth and detail
may depend on the transaction and
customer. Transactions involving credit or
other types of financial risk should
incorporate a risk management process.
12. The transaction's risk management
process
A transaction's risk management process should focus
on five areas:
• Knowledge of your client company and product.
• Knowledge of your customer/underwriting.
• Structure and documentation.
• External risk mitigation/portfolio management.
• Crisis management.
13. 1- Know your product
• It's important to know your company's risk philosophy.
• What is the risk appetite for this product, geography, customer?
• Does the company's success depend on this single transaction?
• Companies and financial institutions usually know their products
very well because they've developed them. However, selling a
product in a new or changing market may create new product
dynamics or risks, and these must always be addressed.
14. 2- Know your customer/
underwriting
• Every company should have a KYC (know your customer)
and/or underwriting process for assuming financial risk.
• Financial risk is not just providing financing to a customer;
the potential for fines, duties or legal action or
dependency on one customer for a substantial portion of
sales are additional examples.
• Operational and reputational risks can also have financial
impacts. Clearly, greater financial risk requires better risk
management and higher compensation. The underwriting
process should focus on a customer's capacity and
willingness to meet financial obligations.
15. 3- Structure and documentation
• There is no single formula for determining an appropriate
deal structure. The goal is to achieve a reasonable
balance between positive and negative factors.
• Elements of a good structure include: key risk
identification and mitigants; proper identification of the
legal entities involved; appropriate ties between cash
flows and purpose; early warning signals; level of
monitoring appropriate to the level of risk; remedies to
act when mutual expectations are not met; and proper
risk/reward balance and clear communication of
expectations between all parties.
16. 4- External risk
mitigation/portfolio management
• External risk mitigation is an important risk management
tool which can also support additional business
generation through freeing capacity by distribution of
risk.
• Risk mitigation techniques include funded and unfunded
risk participations (where one party sells a portion of a
transaction's risk to one or more third parties); insurance
(a third party insures the transaction for certain events);
credit default swaps (one party purchases credit
protection from another party, similar to insurance in
many ways); and collateral.
17. 5- Crisis management
•Despite a solid risk management process,
there will be problems because we cannot
predict all crisis events and protect against
them. Be prepared to deal with a crisis
event and take action immediately –
identifying and assessing issues and
options and obtaining expert advice as
needed.
18. Crisis Communications
• Good communication is the heart of any
crisis management plan. Communication
should reduce tension, demonstrate a
corporate commitment to correct the
problem and take control of the
information flow. Crisis communications
involves communicating with a variety of
constitutes: the media, employees,
neighbours, investors, regulators and
lawmakers.
19. Key References
• Duffy, Cathy (2004). “Crisis management
vs. risk management”, Global Trade
Review.
• Seymour, M., Moore, S. (2000). Effective
Crisis Management: Worldwide Principles
and Practice.