risk management - Director Magazine

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KEEPING THE BALL ROLLING organisation to drive the initiative into the business. Without this, the plans will wither, become redundant and fail to respond when most needed. Be prepared to commit to: including BCM as a fixed board agenda item and consider a different risk each meeting understanding the links and relationships within the business using facilitation techniques to brainstorm carrying out exercises with staff, customers and suppliers to identify weak links and areas for priority action. Inevitably they will spot risks you have not considered 64
CHAPTER 11 flexibility is the key for the future Directors need to develop a ‘risk radar’ to help steer a course through the uncertainties of the future, says Steve Fowler, chief executive officer at the Institute of Risk Management Looking to the future, what sort of world do you see? Will disease be eradicated? Will poverty be a thing of the past? Will technology be a force for good? Or, will we live in a world racked by ethnic and religious division, with mankind so dependent on technology that the slightest failure could lead to total collapse of civilisation? learning from the past Clearly, our ability to manage the future is improved if we learn from the past. Would the dotcom boom-and-bust cycle of the late nineties have happened if we had spotted the similarities with the proliferation of railway companies in the nineteenth century, or the rush to buy rare tulips at any price in the 1630s? EXECUTIVE SUMMARY we need to learn from the past and to imagine how that can influence our futures you can miss the bigger picture by trying to ‘micro-manage’ everyday risks rather than trying to predict and eliminate every risk, you need a mechanism to identify and respond to new risks to your business the Risk Management Standard can help you build the right mechanism Could lessons learnt during the Spanish Flu outbreak of 1918 – which killed 40 million people worldwide – inform our response in the event of an avian flu pandemic? 65
Page 1:
A DIRECTOR’S GUIDE risk managemen
Page 4 and 5:
ABOUT THE SPONSOR HSBC Insurance Br
Page 7:
INTRODUCTION managing your business
Page 11 and 12:
CHAPTER 1 ever feel like staying in
Page 13 and 14:
EVER FEEL LIKE STAYING IN BED? TYPI
Page 15: EVER FEEL LIKE STAYING IN BED? cros
Page 18 and 19: NEW THINKING FOR OLD PROBLEMS Even
Page 20 and 21: NEW THINKING FOR OLD PROBLEMS When
Page 22 and 23: UP CLOSE RUNNING AND HEAD PERSONAL
Page 28 and 29: ARE YOU TAKING RUNNING RISKS HEAD W
Page 30 and 31: ARE YOU TAKING RUNNING RISKS HEAD W
Page 33 and 34: CHAPTER 5 keeping the cash flowing
Page 35 and 36: KEEPING THE CASH FLOWING There is a
Page 37: KEEPING THE CASH FLOWING FACTORING
Page 40 and 41: MINIMISING M&A RISKS through disclo
Page 42 and 43: MINIMISING M&A RISKS WARRANTY INSUR
Page 44 and 45: KEEPING ON THE RIGHT SIDE OF THE LA
Page 50 and 51: CHAPTER 8 the fight against fraud F
Page 52 and 53: THE FIGHT AGAINST FRAUD dual contro
Page 54 and 55: THE FIGHT AGAINST FRAUD check deliv
Page 56 and 57: ENVIRONMENTAL RISKS ARE A PRIORITY
Page 62 and 63: KEEPING THE BALL ROLLING POTENTIAL
Page 64 and 65: KEEPING THE BALL ROLLING HOW TO DRA
Page 68 and 69: FLEXIBILITY IS THE KEY FOR THE FUTU
Page 74 and 75: IT’S ALLRUNNING THE PRESENTATION
Page 80 and 81: FURTHER SOURCES OF INFORMATION HSE
Page 82: FURTHER SOURCES OF INFORMATION of y
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