StrategyDriven Launches Operational Risk Management Resource Forum

Strategy Driven

StrategyDriven is proud to announce the launch of a risk management resource forum; providing innovative thought leadership and collaboration opportunities to help leaders effectively address their most pressing operational risks. Integrated Enterprise Risk Assurance Mapping – visualization of the relationships between enterprise risks and their associated processes while concurrently revealing the degree of oversight applied to these processes.

Lead by Providing Bearing, Room, and Backup

Lead Change Blog

Backup is about being there and facilitating the taking of risks. A team member in an innovative environment will by the very nature of the task need to take calculated risks. Especially when a team member takes a risk and it doesn’t pan out, the way you deal with this is crucial. If you choose to dress-down the team member, you are teaching them not to take risks. That may have a short-term benefit, but nips innovation in the bud.

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Every Manager Is a Risk Manager

Harvard Business Review

An MBA student once asked me to give her a simple explanation of the "risk management function." After a few minutes of fumbling, I told her that risk management is the process of identifying, prioritizing, and mitigating the impact of unforeseen (and usually negative) events. Her question got me thinking about who is actually responsible for managing risk in an organization. budgetary risks (how do we get our work done if the budget is cut?);

Ideas Don't Equal Innovation | N2Growth Blog

N2Growth Blog

As a result of our conversation, I decided to dust-off an old post, give it a few updates, and pass along my thoughts, which can be best summarized as “ Ideas Don’t Equal Innovation. Those of you familiar with my work are probably wondering if it is really me authoring this text…if you’re baffled at how a champion of innovation can simultaneously be an idea-basher, I urge you to read on, and I promise the congruity will become apparent.

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Leadership & Change

N2Growth Blog

Put simply, leadership is not a static endeavor. In fact, leadership demands fluidity, which requires the willingness to recognize the need for change, and finally the ability to lead change. Now the good news : As much as some people want to create complexity around the topic of leading change for personal gain, the reality is that creating, managing and leading change is really quite simple. Senior leadership must champion any new initiative.

The Leadership Lesson They Don’t Teach In Business School But Should

N2Growth Blog

I’ve always believed leadership exists to disrupt mediocrity, but I’m afraid in recent times many leaders are losing that battle. Somewhere along the way, they threw in the towel and settled for a weak-kneed, watered-down version of leadership – they have rationalized and justified themselves into an acceptance of mediocrity. We are producing analysts and risk managers and labeling them leaders. By Mike Myatt , Chief Executive Officer, N2growth .

The Big Picture of Business – Business Success Checklist

Strategy Driven

Sometimes the difficulty of managing your time makes for a haphazard operation. Provide leadership. It is important to identify swings and trends so that innovation can remain a strength of your business. Time management and “just in time” concepts are applied. Assets are adequately valued and managed. Top management has as a priority the need to develop and practice People development, skills and team building responsibilities.

The Big Picture of Business – Achieving the Best by Preparing for the Worst: Lessons Learned from High-Profile Crises, part 2 of 4

Strategy Driven

Current management of both companies were ill-advised on handling the crises. Among the lessons which we learned from the Y2K Bug exercise were: When they want to do so, company leadership will provide sufficient resources to plan for the future, including crisis management and preparedness (of which computer glitches are one set of “what ifs.”). Don’t have sufficient management skills or resources to do something well. Wrong Actions, Mis-Actions.

The Big Picture of Business – Quality is Important for Business: Real Quality vs. Arbitrary Metrics

Strategy Driven

Quality is not something that managers assign others to achieve. Rather than assume all is wrong or right with an organization and take a defensive posture, management must view quality as essential to their economic survival or growth. It is not enough for management to endorse quality programs; they must actively participate. Willingness requires complete and never-ending commitment by management. Bad managers will fall by the wayside. Faster innovation.

The Big Picture of Business – Becoming a Legend

Strategy Driven

Courage and leadership. Professional innovation. I remarked to Sonny that I often quoted his song “The Beat Goes On” as analogous to change management, and he was pleased. I was then challenged to come up with such a program, the result being the Leadership in Action Awards. Are you a legend? Do you admire people who went the distance? Have you celebrated organizations that succeeded? I hope that you are and will continue to be distinctive.

The Making of Legends

Strategy Driven

I developed the concept of integrating Pop Culture Wisdom with management training and business planning over the last 40 years. There have been books on fundraising and some articles on volunteer management and the business aspects of running non-profit organizations. Quotes on community stewardship, leadership and related topics. Innovating programs, strategies and methodologies. I have written several books, on business, entertainment, history and pop culture.

The Big Picture of Business – Yesterdayism… Learning from the Past, Planning for the Future

Strategy Driven

They embrace innovations, while keeping the best traditions. Change is innovative. Innovated It… and Teach You Why. Innovative Then and Now… Still Creating. Apply thinking processes to be truly innovative. This Annual Report issue celebrates the year, as basis for helping business people to prepare for the future. People are interesting combinations of the old, the new, the tried and the true.

Was the State of the Public Cloud Being Used Effectively by IT Managers in 2020?

Strategy Driven

IT managers in businesses with more than 5,000 members within the UK, US, and APAC were questioned to arrive at its conclusions. Another 50% of these IT managers made use of the hybrid cloud. Only 13% of IT managers reported that their businesses had a fully-fledged public cloud system.

The 5 Skills That Innovative Leaders Have in Common

Harvard Business

Innovation is critical in a knowledge economy — driving growth, new products, and new methods of delivering value to customers. According to PwC’s 2015 study on Global Innovation , U.S. And yet, despite its importance, innovation is a difficult quality to cultivate both in leaders and in organizations. Leadership is changing — fast. Analyses were done to identify the competencies that innovative leaders share.

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28 Leadership Development Recommendations for your Individual Development Plan

Great Leadership By Dan

Welcome to the September edition of the Leadership Development Carnival ! For this month’s edition, I asked an all-star cadre of leadership development bloggers, authors, and consultants to submit an answer to the following question: “We all know that individual development plans (IDPs) need to be tailored for each leader. I recommend it for others but whether it belongs in an IDP would depend on if the organization committing to the type of Leadership presented in the book.

When a CFO’s “Head In The Cloud” Is a Good Thing

N2Growth Blog

My approach to these placements comprised a thorough analysis of its evolutionary road from a traditional finance function to a strategic, tech-savvy, global leadership finance position that has a pivotal role in C-level management. .

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Match Your Innovation Process to the Results You Want

Harvard Business Review

We are often asked whether the best way to structure for innovation is top-down or bottom-up. Bottom-up approaches work well for incremental (keeps you in the game) innovations. Breakthrough (changes the game) innovations, contrary to popular belief, need a top-down approach. The risks-rewards are relatively low. Management involvement tends to happen only when the ideas are "ready" to be pushed up and sometimes even that isn't necessary.

14 Principles that Made Amazon

Skip Prichard

Steve Anderson spent his career in the insurance industry focused on risk and business growth. He is a leading authority on insurance, risk management, technology, and innovation. Management Advice from Jeff Bezos. The biggest surprise after studying the Amazon letters to shareholders written by Jeff Bezos is how much management advice he provides. The S-Team (senior leadership team) developed Amazon’s flywheel. How You Can Learn from Amazon.

These Are Hard Times for Leaders

Leading Blog

Leaders followers, and context form a system of leadership. More than ever,” writes Kellerman, “it is better—better in practice and better in theory—to focus less on the leader and more on the leadership system.” We diminish our capacity to lead when we don’t consider all aspects of leadership. Her extensive examination considers twenty-four different ways the context in which we lead shapes leadership now—in the United States—in the second decade of the twenty-first century.

What Investors Need to Know About Zimbabwe After Mugabe

Harvard Business

In this environment, multinationals that are willing to accept some risk and invest in the country could benefit from first-mover advantages – but only if the new administration follows through with much-needed economic reforms. Zimbabwe’s new leadership faces a challenging task. Zimbabwe’s largest telecommunication company Econet Wireless has found success with its online payment platform that helps Zimbabweans manage the challenges of its multi-currency system.

Is the Cost of Innovation Falling?

Harvard Business Review

If the cost of innovation is falling, that should enable more of it from poorer countries, companies or cooperatives. If it's not, the already big and already rich will dominate innovation. They then generalize from there to show how cheaper innovation has enabled tiny research centers to pack more punch than the most massive laboratories of yesteryear. Part of the issue here is lumping together incremental innovation with disruptive innovation.

How to lead without blinders

Lead on Purpose

Several years ago I wrote that you can’t fake leadership. In my “day job” as a product manager I create software products that help companies fight against internal fraud. I was recently given the honor of publishing an article in Wired Innovation Insights— Blinders at the C-Level Can Cost You Billions —which discusses the perils of the “not-in-my-company” attitude, and the importance of incorporating active risk-management strategies to mitigate the insider threat.

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4 Risks of Attempting Risk-Free Change

Ron Edmondson

As leaders, we all want to limit the risk in the hard decisions we make. A good portion of time is dedicated to risk management. But, I have seen some leaders who want to get to 100% risk elimination before they move forward with any change. Here are 4 risks of attempting risk-free change. You’re risking how expensive it will be – It’s not cheap to eliminate every thing which could go wrong. Risk is all around us.

The Difference Between Great Leaders And Posers

N2Growth Blog

This may sound harsh, but the truth often is… I’ve witnessed far too many people in positions of leadership that wouldn’t recognize an opportunity if it hit them squarely in the face. If you cannot recognize, attract, and acquire opportunity you should not be in a leadership position. Just this week I’ve observed people in leadership roles who failed to recognize opportunities, or perhaps even worse, took too long to make a decision and let an opportunity pass them by.

How to Seize Opportunity in a World of Disruption

Skip Prichard

and is an expert on risk, strategy, and finance. The combination of business and military leadership experience added insight and perspective to their book. . Tactical agility enables employees at all levels to take smart risks, capture opportunities, improvise and innovate as they execute a clear strategy. In emergency management, Hurricane Sandy stands out. Leadership Practices to Watch. Take a smart risk. Navigate through Change.

How to Be a Real Leader And Great Manager

Lead from Within

From time to time through the years, I’ve written on the difference between leadership and management. I am revisiting the subject now because it’s not enough to understand that leadership and management are two different things. Of course we do have defined tasks as leaders, and managers have a specific role to play too. People look to managers not just to assign them a task but also to define a purpose for them—something that’s usually a role of leadership.

The Back-To-Basics Prescription

N2Growth Blog

If you’re a senior leader, mid-level manager or, simply, a company change agent struggling to determine ways in which to ensure the long-term success of your business, you may find value in what I call the Back-To-Basics Prescription. It focuses on the cultural aspects of strategy, leadership, motivation orientation, risk management and change adaptability.

Why Leaders Need to Think More Like Professional Gamblers

Leading Blog

We tend to see situations in one of two ways: either events are certain and can, therefore, be managed by planning, investment, and reliable budgets; or they are uncertain, and we cannot manage them. Our instinct for determinism may well have been an evolutionary innovation. Probabilistic risk managers will think about the future of how they work.

Capturing the Upside of Risk

Harvard Business Review

The combination of these three has created what I'd call a new world order of risk — one that can have a tremendous impact on your brand. So, do companies now need to manage risk differently than they have in the past? First, in terms of managing the current uncertainty. Second, in terms of risk, you need to be minimizing risks as best you can, of course, but not so much that you're eliminating risk-taking altogether.

How Risk Reduction Is (and Isn't) Rocket Science

Harvard Business Review

The secret isn't rocket science — it's a full-time commitment to the art and science of project management. New findings from the Project Management Institute (PMI), suggests that organizations that focus on excellence in project management execution can reduce risk, improve performance, save money, and achieve a greater return on investment. It stands to reason that good project management requires active executive sponsorship.

How Risk Reduction Is (and Isn't) Rocket Science

Harvard Business Review

The secret isn't rocket science — it's a full-time commitment to the art and science of project management. New findings from the Project Management Institute (PMI), suggests that organizations that focus on excellence in project management execution can reduce risk, improve performance, save money, and achieve a greater return on investment. It stands to reason that good project management requires active executive sponsorship.

Politicians Who Deny Climate Change Cannot Be "Pro-Business"

Harvard Business Review

Still, Obama's admission that climate change is real (a low bar for showing leadership these days) is light years from Governor Romney's dismissive attitude. This quest will drive innovation and create millions of jobs for some lucky companies and countries. A strong plan to tackle climate change through government policy, business innovation, and citizen action is not just something that's not optional; it's preferable. Global business Risk management Sustainability

Leading in a World of Resource Constraints and Extreme Weather

Harvard Business Review

And as an HBS white paper points out, even some of today’s most mainstream executives — from the CTO to even the CFO — were once just new positions created to deal with “significant opportunities and risks emerging from technological or social disruptions.” The issues in each of these buckets require new leadership, or at least a rethinking of it in the highest ranks of companies, and deep operational changes. My father worked at IBM for 35 years.

What the EPA’s Clean Power Plan Looks Like in Practice

Harvard Business Review

” Policies such as the new EPA proposal, which would establish firm limits on carbon pollution from power plants, will only help accelerate these much-needed market innovations. Low-carbon leadership isn’t just confined to the coasts. Government Risk management Sustainability Something reassuring happened Monday after EPA Administrator Gina McCarthy unveiled the Obama administration’s proposed Clean Power Plan , arguably the most important step the U.S.

The Status Quo Is Risky, Too

Harvard Business Review

If your ideas are met with choruses of “that will never work,” “we can’t take that risk,” “let’s just stick with the plan,” your teammates are likely falling prey to a common decision making bias that former Rotman dean Roger Martin refers to as Underestimating the Risk of the Status Quo. Martin describes how executive teams carefully explore the risk of different courses of action, but neglect to make a similar assessment of the risk of staying the course.

Japan, Libya, and Why Leaders Should be Paranoid

Harvard Business Review

That's my management tip for today. Andy Grove, Intel's legendary former CEO, famously touted the virtues of paranoia as a leadership asset — running scared about imagined enemies or competitors. Feeling vulnerable as a small city-state, Singapore's leaders set high standards, benchmark against the best in the world, seek innovation, and invest in ideas of the future. Leadership Managing people Risk management

UBS Systems Failed the "Too Big to Fail" Bank

Harvard Business Review

The acknowledged breakdown in systems oversight and risk controls is simply shocking. Every single Chief Risk Officer and every single non-executive director of every single "too big to fail" financial institution should be challenged by shareholders to prove they've got a surer grasp of risk than UBS. Senior UBS management was charged with a "failure to demand holistic risk assessment," a "failure to manage [its] agenda," and a "lack of succession planning."

How Much Do Companies Really Worry About Climate Change?

Harvard Business Review

Are managers particularly concerned about the impacts of climate change on their businesses? First the sobering survey results: Only 27% of respondents agreed strongly that climate change is a risk to their business — which is frightening when you think about what that says about companies’ level of readiness for the significant changes that are upon us already (extreme weather, disruptions to operations and supply chains, and the changing expectations of customers and employees).

From BP to Boeing, Supplier Safety Is the CEO's Problem

Harvard Business Review

Business leaders must establish robust processes not just for qualifying third party vendors, but for making sure that there is integration of those suppliers in a strong safety culture with close company oversight of safety management and processes. Backed up orders, lost revenue, angry customers, reputational injury and the success of the innovative 787 all turn on resolution of this dramatic problem. BP Leadership Risk management OIMS

Instinct Can Beat Analytical Thinking

Harvard Business Review

This popular triumph of the “ heuristics and biases ” literature pioneered by psychologists Daniel Kahneman and Amos Tversky has made us aware of flaws that economics long glossed over, and led to interesting innovations in retirement planning and government policy. At times this belief has led the managing director of the Max Planck Institute for Human Development in Berlin into pretty fierce debates with his intellectual opponents. Now, today, we need risk literacy.

Social Media for CEOs

N2Growth Blog

The Dissenting Position : The stance of the risk adverse is there is little to be gained, but the potential for much to be lost in social media initiatives involving C-level executives. They are risk managers who believe in protecting what was rather than embracing what is, and what will be. . How can you ask members of your team to be innovative, engaged, proactive, creative, authentic, transparent, and communicative if you are none of those things?

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Calculating the Market Value of Leadership

Harvard Business Review

To gain more insights into a specific firm, investors have shown more interest in intangibles like strategy, brand, innovation, systems integration, collaboration, and so on. We believe that a next step for investors is to analyze the predictors and drivers of these intangible factors, which means focusing on leadership. Wise, long term investors recognize that leadership affects firm performance. But too often, assessments of leadership are haphazard and narrow.

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Strategic planning must change with the times

N2Growth Blog

Engineering and creating sustainable advantage is the focus of the new paradigm for strategy management, detailing how the intersection of intelligence and innovation come together to deliver and sustain superior financial performance and value creation. In the new paradigm of strategy management priorities also must be decided but those priorities are on immediate actions that move the performance needle on the drivers of change not on huge multi-year, expensive initiatives.