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?);

JP Morgan's Loss: Bigger than "Risk Management"

Harvard Business Review

The recent disclosure of a multi-billion dollar trading loss at JPMorgan Chase reminds us again of the challenge and complexity of risk management, the subject of our June 2012 HBR article, "Managing Risks: A New Framework." legislators and regulators, believe that risks can be managed by establishing and following rules, standards and guidelines. But for certain categories of risk, this is a false and dangerous assumption.

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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Higher Ed Needs a Long-Term Plan for Virtual Learning

Harvard Business

Education Innovation Risk management Digital ArticleHow to move beyond the immediate response to Covid-19.

Lessons from Chinese Companies’ Response to Covid-19

Harvard Business

How they’ve innovated, adapted, survived — and even thrived. International business Innovation Risk management Digital Article

Nick Gogerty: Part 1 of an interview by Bob Morris

First Friday Book Synopsis

He lectures in Columbia University’s MBA value investing program on innovation, macro-economic portfolio, and scenario risk management. Nick is the author of The Nature of Value: How to Invest in the Adaptive Economy (Columbia University Press 2014) and involved in a technical confidential project with one of the world’s largest global macroeconomic hedge funds.

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The Importance of Business Insurance and the Types of Business Insurance that Every Business Needs

Strategy Driven

Therefore, leaving it at the risk of various potential threats is inane. But you cannot manage without human labor. You need your employees to run these machines and technological innovations that you are ever so thankful for.

4 Ways COVID-19 Will Continue to Impact Businesses in 2021 and Beyond

Strategy Driven

Gayhardt states that Hong Kong is already increasing its use of advanced fraud detection, biometric facial recognition, and other innovative AI technologies due to the pandemic. StrategyDriven Editorial Perspective covid-19 Risk Management strategydriven

Nick Gogerty: Part 2 of an interview by Bob Morris

First Friday Book Synopsis

He lectures in Columbia University’s MBA value investing program on innovation, macro-economic portfolio, and scenario risk management. […]. Nick is the author of The Nature of Value: How to Invest in the Adaptive Economy (Columbia University Press 2014) and was involved in a technical confidential project with one of the world’s largest global macroeconomic hedge funds.

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The Big Picture of Business – Business Success Checklist

Strategy Driven

Sometimes the difficulty of managing your time makes for a haphazard operation. 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.

10 Important Cybersecurity Tips

Strategy Driven

In today’s world, cyber attackers are becoming more and more innovative, and cybersecurity is very challenging as it is more vulnerable now these days as businesses now opting for cloud services to reduce the risk of cyber attackers. Everyone is at risk by cyber-attackers.

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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 – Communications Reflect Your Strategy

Strategy Driven

Rather than risk going out on a limb, employees either don’t learn or use their communication skills. Managers and employees with the most to lose are most fearful of change. The same fate had fallen the electronics industry, whose innovator (the Thomas Edison Electric Company) fell behind others in leading the trends and usage. Tie activities to customer outcomes (the tenet of Customer Focused Management).

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 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. Innovating programs, strategies and methodologies. I have written several books, on business, entertainment, history and pop culture. The Legends series is an amalgamation of all of them.

How We Think About Innovation at Cisco

Harvard Business

The question confronting Cisco and other companies is how to do that – how to speed the process of innovation, especially as technological change threatens to upend our current business models. A 2013 study found that companies with a diverse workforce – both culturally and in terms of professional experience – “out-innovate and out-perform others. Innovation Digital ArticleNo one doubts that the future belongs to the Internet of Things.

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The Big Picture of Business – Becoming a Legend

Strategy Driven

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. 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. This essay is to give insights into those who leave legacies. The secret to long-term success lies in mapping out the vision and building a body of work that supports it.

Have You Insured Your Business Correctly?

Strategy Driven

However, save your risk-taking for other aspects of the business — such as innovation — and get yourself covered as tightly as you can. Risk ManagementInsurance: if you don’t have it, you’ll only wish you did if the time comes to call upon it. Indeed, it’s far safer, smarter (and sometimes more financially viable) to invest in insurance, just in case.

How Digital Process Innovation Can Influence Organisational Change In The Finance Sector

Strategy Driven

Digital innovation is everywhere, from Big Data to risk management software, and it’s all coming to change in the way that the sector is organised and run. This is just one example of how digital processes can be used to streamline regulatory and financial resources, and so we’ve taken a closer look at the impact digital process innovation is having on financial organisations around the world. CFOs Must Continue To Innovate.

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.

Innovation Should Be a Top Priority for Boards. So Why Isn’t It?

Harvard Business

Corporate directors and executives alike recognize that today’s pace of change continues to accelerate and that firms need to innovate to stay ahead. But are boards doing enough to support innovation, as they should? We found that, overall, innovation does not rank as a top strategic challenge for the majority of boards. We found that concerns about innovation fall behind other issues for most directors. These firms also had higher-rated processes for innovation.

How to Convince Others to Embrace Risk

First Friday Book Synopsis

Here is another valuable Management Tip of the Day from Harvard Business Review. But without some risk-taking, there is no innovation [.]. Bob's blog entries "Getting Others to Embrace Risk" Harvard Business Review. HBR newsletters Heidi Grant Halvorson How to Convince Others to Embrace Risk Management Tip of the DayTo sign up for a free subscription to any/all HBR newsletters, please click here.

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. Analyses were done to identify the competencies that innovative leaders share. Stop and look at the downside risk of every decision.

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4 Assumptions About Risk You Shouldn’t Be Making

Harvard Business

And, the misunderstood poem helps to highlight how innovation-seeking executives need to reframe the word risk. Similarly, when the word risk comes out of an executive’s mouth, it’s usually accompanied by one of four mistakes: Assuming that taking action is the biggest risk. Believing that good entrepreneurs seek out risk. Good entrepreneurs recognize the inherent risk of creating new businesses. Celebrating failure to encourage risk taking.

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

N2Growth Blog

We are producing analysts and risk managers and labeling them leaders. We’ve taught them to be practical, analytical, and risk adverse, but have failed to equip them to lead. Innovation Leadership Success leadership and business school Mike Myatt N2growth should i go to business school whats wrong with business school By Mike Myatt , Chief Executive Officer, N2growth .

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.

Four Simple Low Resolution Innovation Tests

Harvard Business Review

Imagine you had an idea for a one-week seminar that intersects strategic innovation and design thinking, bringing together world-class speakers, global attendees and unique tools. Disruptive innovation Innovation Risk management"Our new service tested off the charts — more than 5% of customers we surveyed said they would buy it," one reader at a not-for-profit organization emailed me. "We We launched it. The results were disappointing.".

Small and Young Businesses Are Especially Vulnerable to Extreme Weather

Harvard Business

These threats change the risk management calculus of firms hoping to succeed in a more turbulent world. Owning up to our own behavioral biases is a worthwhile starting point to discussing the problem of managing infrequent, severe events. Start-ups are particularly at risk today because of both their size and age. Generally speaking, entrepreneurs may need to rethink their risks to improve the chances that their innovations succeed.

Research: Self-Disruption Can Hurt the Companies That Need It the Most

Harvard Business

When innovations threaten to disrupt an industry by replacing an old business model with a new one, incumbents need to invest in that model in order to survive. ” If you’re dealing with innovations that have led to a dominant new business model in your industry, that advice is sound, as the leaders of Netflix and Blockbuster can tell you. But what if an innovation poses a threat, and you can’t yet tell whether it has genuinely transformative potential?

Michael Schrage: An interview by Bob Morris

First Friday Book Synopsis

Michael Schrage is a Research Fellow at the MIT Center for Digital Business and a Visiting Fellow at Imperial College’s Department of Innovation and Entrepreneurship. He examines the various roles of models, prototypes, and simulations as collaborative media for innovation risk management. He has served as an advisor on innovation issues and investments to major […].

Consumer Warning Labels Aren’t Working

Harvard Business

They alert us to the risks of eating unhealthy foods, smoking cigarettes, taking prescription drugs, driving cars, using power tools, and performing many other activities. Ideally, these warnings provide requisite risk information, allowing people to decide for themselves whether an activity or a product’s benefits outweigh its risks, whether to take those risks, and, if so, with what precautions. A few innovations impose major risks, or even worse.

A Payment Model That Prevents Unnecessary Medical Treatment

Harvard Business

The Center for Orthopedic Research and Education (or CORE Institute ) — a group of musculoskeletal, neurologic, and rehabilitative physicians in Arizona and Michigan that includes orthopedic, spine, and pain-management physicians and a number of other types of clinicians — is pioneering an approach that represents a middle ground. Innovating for Value in Health Care. Why is CORE willing to take on such global risk? As payers and providers in the U.S.

What We Can Learn from Merger Deals That Never Happened

Harvard Business

A careful look at what happened to these deals leads to three lessons for managers contemplating mergers in the future. This would reduce options for customers (huge oil companies themselves) and may reduce innovation, they reasoned. The global airline industry for a long time has managed to do with alliances what other industries do with mergers — because they are blocked from cross-border mergers, for the most part.

The Risks and Benefits of Using AI to Detect Crime

Harvard Business

Businesses are constantly experimenting with new ways to use artificial intelligence for better risk management and faster, more responsive fraud detection — and even to predict and prevent crimes. Given the wealth of data available today, and the rising expectations of customers and public authorities when it comes to protecting and managing that data, many companies have decided that this is one of the only ways to keep up with increasingly sophisticated criminals.

Ten Ways to Inhibit Innovation

Harvard Business Review

But a better starting point is to think about what gets in the way of innovation , especially in firms that already have lots of talented, creative, and motivated people. In other words, by identifying and removing barriers, it might be possible to accelerate innovation simply by leveraging the capability that's already there. In that spirit, here are ten common inhibitors that can dampen an organization's ability to innovate effectively.

Why the Australian Defence Organization Is Recruiting Cyber Analysts on the Autism Spectrum

Harvard Business

To help address it, ADO has, with the help of some innovative business firms, leapt to the forefront with a new approach to sourcing cybersecurity talent: “Dandelion programs.” The analogy to people with autism suggests that they are weeds only if we try to fit them into organizations in standard ways, using traditional management. Much has been learned about how to manage these programs. Hiring Talent management Risk management Security & privacy Digital Articl

The Internet of Things Is Going to Change Everything About Cybersecurity

Harvard Business

Despite increased spending and innovation in the cybersecurity market, there is every indication that the situation will only worsen. These devices, designed to listen and transmit information, may lead to increased productivity, but they also introduce unquantifiable risks. They are introduced into corporate environments by individual users who have no real security knowledge or expertise, which is a risk. Security & privacy Risk management Digital Article

11 Things the Health Care Sector Must Do to Improve Cybersecurity

Harvard Business

How the most innovative providers are creating value. Many medical personnel are unaware of the risks to data security (which is ironic given the strong emphasis on patient privacy). Here are some specific recommendations, which are based on our collective expertise in care delivery, health systems, financial regulation, and risk management. Third-party vendors can help assess such risks and recommend ways to minimize them.

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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Structure Your Global Team for Innovation

Harvard Business Review

Many firms struggle to exploit the innovation potential of their global networks. That's partly because they manage global projects like traditional ones. To get the most from dispersed innovation, managers need a different playbook. Here are three ways to set up and manage global innovation for success: 1. Assign oversight and support responsibility to a senior manager. Use rigorous project management and seasoned project leaders.