We can all agree that today’s work environment is more complex, volatile, and unpredictable than ever before. As General Stanley McChrystal puts it in his book RISK, “Your risk immune system enables you to anticipate, identify, analyze, and respond effectively to the constant possibility that things may not go as planned.” The question, therefore, is, how…
One would think that Businesses/Islands in the Caribbean, at least many of them, may have thought that COVID-19 “educated” decision-makers on the need to build a resilience component into their Risk Management frameworks. Still, many of them may have failed to do so. That said, even the best of plans can be disrupted. As Mike Tyson once…
Resilience does not begin with a response. As many islands of the Caribbean, especially the Eastern Caribbean, are facing (direct or indirect) Hurricane Beryl, I thought about the following concepts and their differences: But let’s focus on Resilience; Resilience, resourcefulness, and ‘bounce forward’ strategies are not spontaneous. They must result from meticulous preparations and detailed risk evaluation…
An observation: Businesses seem more focused on complying with the framework than managing the risk. As a profession, we have the opportunity to shift our focus. We can move away from singularly relying on/thinking about the frameworks and compliance and, instead, embrace new thinking, mindset, and decision-making. This is where the future, I submit, of Risk professionals…
The answer is absolutely! It’s imperative that we update our approach to risk management to align with present-day challenges rather than relying on outdated methods from, as an example, 2020. Hello everyone, and welcome to another week of navigating through good risks, bad risks, and complex issues (wicked problems?). There are numerous reasons, among many…
“In an increasingly volatile world, achieving holistic organizational resilience is becoming the new requisite for corporate strategy and risk management”. ~ The McKinsey FERMA Study. In the last few years, the Caribbean, Central, and Latin America have been characterized by unprecedented negative disruptions and massive global challenges, whereby the resilience of economies has become paramount for sustainable…
