Thursday, August 14, 2008

Risk Therapy 104

In the article Risk Therapy 101, we explored reasons why Risk Management is seen as a business imperative by CEO’s and yet it rarely translates to effective activity. In Risk Therapy 102 we considered behavioural options. Risk Therapy 103 addressed motivational issues.

Article 104 is a (present) reality-check, which includes a review of (past) habitual responses and preferred (future) choices. It reaffirms what you already know, that you can make changes today, rather than just manage the changes that happen to you, that originate elsewhere.

Let’s not forget, risk is personal; as is opportunity. These are concepts that happen in real life, not just in business school books. Will you choose to prepare for them or just react when you are forced to?

Both will manifest themselves in your life when you least expect them. They are likely to come from a place that you least anticipate. Alternatively, you can go looking for them; shall we say you adopt them rather than the other way around? Your approach to your life, like your behaviour in business is your choice.

Choices, like risks and opportunities, are personal too; your responses become good or bad habits. Studies indicate that habits can be broken or made in 21 days, so you need not be a prisoner of your past.

What does all this have to do with Risk and Opportunity Management? Well choosing to adopt these behaviours is a life choice. This choice is optional at the moment, but not for much longer. The new Companies Act requires practice of Risk Management as a new minimum standard for business in SA.

If you would like to discuss this subject further then contact us. This is one of our areas of expertise.

If you are looking for a more discrete initial step then you can take the Enterprise-wide Risk Health Check (RHC), accessible from our website by arrangement with us. It is a self-check system that allows you to quickly ascertain the Risk Health of any sized business, in any industry, in any country.

In two hours, you can privately discover strengths and weaknesses in existing Risk Management structures or procedures, inherent strategic issues, problems and opportunities in your areas of expertise, key dependencies and some specialised risk identification.

What are ART and Risk Therapy about? The emphasis is on the individuals in the business to take responsibility for their position and the development of it.

Accountability cannot to be abdicated to a juristic entity. You can walk away when things get tough, or you can learn from it. Think of it as self-development.

You need not face this alone; we are there to help you.

For more information go to or ART Risk Health. Write to us at or or .

This is the fourth in a series of articles. Further exploration of this new mindset will follow in Risk Therapy 105.

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