implementation - Blog - Global Risk Community2024-03-29T10:07:53Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/implementationThe 4DX Model Uncovered: Transforming Strategy into Resultshttps://globalriskcommunity.com/profiles/blogs/the-4dx-model-unleashed-transforming-strategy-into-results2024-01-06T10:23:39.000Z2024-01-06T10:23:39.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><a href="{{#staticFileLink}}12346864254,original{{/staticFileLink}}"><img class="align-full" src="{{#staticFileLink}}12346864254,RESIZE_710x{{/staticFileLink}}" alt="12346864254?profile=RESIZE_710x" width="710" /></a>A significant proportion of organizations exhibit proficiency in the domain of strategic planning; however, they face obstacles in efficiently executing those strategies, especially when pressing concerns take precedence over regular operations.</p><p>The efficacy of strategic plans relies heavily on their flawless implementation. <a href="https://flevy.com/browse/flevypro/4-disciplines-of-execution-4dx-8048">The 4 Disciplines of Execution (4DX)</a> is a <a href="https://flevy.com/browse/flevypro/10-sanity-tests-for-strategy-development-3324">strategic development framework</a> designed to aid organizations in the successful execution of their most vital goals. The principal objective of the 4DX model, developed by Franklin Covey, is to ensure that the strategy is transformed into tangible and measurable metrics, as opposed to merely being conceptualized.</p><p>Numerous organizations that have adopted it have achieved remarkable success with the 4DX model. The framework is able to foster alignment between <a href="https://flevy.com/browse/flevypro/smo-series-strategic-management-office-smo-implementation-3395">strategy and implementation</a> by providing a reliable and established process for executing strategic priorities.</p><p>The 4DX model generates measurable outcomes in an efficient manner by prioritizing the most essential strategic objectives, <a href="https://flevy.com/browse/flevypro/performance-management-primer-2484">monitoring progress</a>, and ensuring accountability through the use of key activities. Through the active participation of all team members in the <a href="https://flevy.com/browse/flevypro/fast-method-to-goal-setting-3647">goal-setting</a> and execution phases, the framework fosters a collective sense of responsibility and commitment towards the ultimate outcomes. By instituting a rhythm of execution that can generate results in a sustainable manner, the 4DX framework facilitates long-lasting changes in <a href="https://flevy.com/browse/flevypro/organizational-behavior-4132">organizational behaviors</a> long after the initial objectives have been met.</p><p>The effective execution of 4DX requires a collaborative effort from every member of the organization operating as a unit. The 4DX framework is built upon four foundational principles or disciplines.</p><ol><li><strong>Focus on the wildly important goal (WIG) </strong>– Discipline of Focus</li><li><strong>Act on the lead measures </strong>– Discipline of Leverage</li><li><strong>Keep a compelling scoreboard </strong>– Discipline of Engagement</li><li><strong>Create a cadence of accountability </strong>– Discipline of Accountability</li></ol><p> <a href="{{#staticFileLink}}12346864465,original{{/staticFileLink}}"><img class="align-full" src="{{#staticFileLink}}12346864465,RESIZE_710x{{/staticFileLink}}" alt="12346864465?profile=RESIZE_710x" width="710" /></a></p><p>Let’s delve deeper into the first 2 disciplines of the model, for now.</p><ol><li><strong> Discipline of Focus: Focus on the Wildly Important Goal (WIG)</strong></li></ol><p>The primary discipline of the 4DX model consists of identifying, ranking, and emphasising the most critical strategic objectives.</p><p>Based on empirical investigations, a restricted subset of personnel are endowed with expertise pertaining to the most pivotal strategic goals of the organization. Instead of attempting to pursue multiple objectives simultaneously, executives should prioritize the identification and achievement of a single wildly important goal (WIG). This does not require organizations to abandon routine operations; instead, it involves redirecting attention to the particular areas in which they strive to make substantial progress.</p><p>It is crucial to prioritize and allocate resources towards the wildly important goal (WIG), as neglecting to do so will hinder its achievement in the midst of regular business activities. Executives should specify the current state, the desired state, the deadline, and <a href="https://flevy.com/browse/marketplace/ultimate-repository-of-performance-metrics-and-kpis-7355">concrete, measurable metrics to evaluate progress</a> when defining a WIG.</p><ol start="2"><li><strong> Discipline of Leverage: Act on the Lead Measures</strong></li></ol><p>The following topic of discussion is leverage, which emphasizes the importance of focusing on the essential activities that drive the achievement of one's primary goals. The 4DX model discriminates between two discrete classifications of metrics, namely "Lag" and "Lead." Lag measures serve to track the ultimate goal that we are endeavoring to achieve. These metrics are called "lag measures" due to the fact that the result has already transpired when the data becomes available, as is the case with the annual sales report. Lead measures have an influence on the achievement of delayed measures and possess a predictive quality. These metrics are what ascertain the efficacy of latency measures.</p><p>A significant proportion of people become preoccupied with a lag measure that is outside of their direct influence. A lead measure, which functions similarly to a lever, advances the team toward achieving its WIG. In order to determine appropriate course of action, executives ought to identify the two (or one) most critical factors that have the greatest potential to affect the objectives. The "Leverage" discipline places significant emphasis on the capacity to discern between imperative and genuinely critical matters. It is imperative to consistently monitor lead measures, communicate them to the team to ensure accountability, and adjust them based on the outcomes and feedback from stakeholders.</p><p>Interested in learning more about the other disciplines of the 4DX framework? You can download <a href="https://flevy.com/browse/flevypro/4-disciplines-of-execution-4dx-8048">an editable PowerPoint presentation on the 4 Disciplines of Execution (4DX) here </a>on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Do You Find Value in This Framework?</strong></p><p>You can download in-depth presentations on this and hundreds of similar business frameworks from the <a href="https://flevy.com/pro/library">FlevyPro Library</a>. <a href="https://flevy.com/pro">FlevyPro</a> is trusted and utilized by 1000s of management consultants and corporate executives.</p><p>For even more best practices available on Flevy, have a look at our top 100 lists:</p><ul><li><a href="https://flevy.com/top-100/strategy">Top 100 in Strategy & Transformation</a></li><li><a href="https://flevy.com/top-100/organization">Top 100 in Organization & Change</a></li><li><a href="https://flevy.com/top-100/consulting">Top 100 Consulting Frameworks</a></li><li><a href="https://flevy.com/top-100/digital">Top 100 in Digital Transformation</a></li><li><a href="https://flevy.com/top-100/opex">Top 100 in Operational Excellence</a></li></ul></div>The OODA Loop: 4 Critical Steps to Make Strategic Decisionshttps://globalriskcommunity.com/profiles/blogs/the-ooda-loop-4-critical-steps-to-make-strategic-decisions2023-05-26T09:00:00.000Z2023-05-26T09:00:00.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><a href="{{#staticFileLink}}11147183076,RESIZE_930x{{/staticFileLink}}"><img class="align-full" src="{{#staticFileLink}}11147183076,RESIZE_710x{{/staticFileLink}}" alt="11147183076?profile=RESIZE_710x" width="710" /></a></p>
<p><a href="https://flevy.com/browse/flevypro/strategic-decision-making-4011">Decision Making</a> is essential to any organization's success. Military strategists use their training and experience to create battle plans and make quick decisions aimed at achieving specific objectives. Military strategies, concepts, and practices have found widespread application in business and daily life. The works, memoirs, and experiences of renowned military historians and strategists, such as Sun Tzu's "The Art of War," Clausewitz's "On War," and Liddell Hart's "Strategy," are highly esteemed in the business world and continue to be utilized by business executives worldwide.</p>
<p>Numerous businesses have successfully captured markets, competed with rivals, and accomplished strategic objectives in the marketplace by employing military strategies. In both the military and the business world, unity of command, planning, <a href="https://flevy.com/browse/flevypro/effective-communication-for-cios-5132">effective communication</a>, Decision Making, mutual understanding, and coordination are essential.</p>
<p>Colonel John R. Boyd was a fighter pilot in the United States Air Force and a renowned military strategist whose writings and theories have been extensively adopted by the military and the business community. Boyd served at the Pentagon and provided mathematical support for the F-15 Eagle program. Together with the mathematician Thomas Christie, he created the Energy-Maneuverability (E-M) theory of aerial combat, which became the industry standard for designing fighter aircraft. In addition, he made significant contributions to the development of a light aircraft (later known as the F-16).</p>
<p>Colonel Boyd's most well-known theory is the <a href="https://flevy.com/browse/flevypro/ooda-loop-7101">Observe, Orient, Decide, and Act (OODA) Loop or Boyd's Decision Cycle</a>. The military uses this instrument to <a href="https://flevy.com/browse/flevypro/10-principles-of-managing-strategy-through-execution-2975">plan and execute strategic decisions</a>.</p>
<p>In the business realm, the OODA Loop is a Decision Making mechanism. The model consists of a four-step decision loop:</p>
<ol>
<li><strong>Observe </strong>– entails gathering as much pertinent data as possible.</li>
<li><strong>Orient </strong>– involves analyzing the data gathered.</li>
<li><strong>Decide </strong>– entails choosing a course of action.</li>
<li><strong>Act </strong>– involves implementing the decision.</li>
</ol>
<p><a href="{{#staticFileLink}}11147183098,original{{/staticFileLink}}"><img class="align-full" src="{{#staticFileLink}}11147183098,RESIZE_710x{{/staticFileLink}}" alt="11147183098?profile=RESIZE_710x" width="710" /></a></p>
<p>Implementing the OODA Loop provides numerous benefits for organizations. For instance, this framework: </p>
<ul>
<li>Improves the processing and reaction periods of practitioners.</li>
<li>Establishes harmony and reduces discord among parties involved in a decision's implementation.</li>
<li>Enables prompt, objective decisions.</li>
<li>Enables individuals to concentrate on particular aspects rather than uncertainties.</li>
<li>Promotes <a href="https://flevy.com/browse/flevypro/management-consulting-problem-solving-process-1690">Problem Solving</a> and innovative abilities.</li>
<li>Establishes a dynamic, adaptable, situationally aware, and receptive culture.</li>
<li>Highlights the importance of <a href="https://flevy.com/strategic-planning">careful planning</a> and preparation for effective decision making.</li>
</ul>
<p>Inadequate planning, lack of practice, and reckless execution of the OODA Loop may result in the following negative outcomes:</p>
<ul>
<li>Erroneous, costly decisions as a result of a lack of conceptual understanding.</li>
<li>Problems and calamities resulting from a decision made without taking into account all available data, scenarios, consequences, and possible outcomes.</li>
<li>Individuals' erroneous perception of the model's credibility.</li>
<li>Negative outcomes result from failing to use the OODA Loop in an iterative cycle under familiar conditions.</li>
<li>Failure to account for the additional response times inherent to team settings and collaboration can result in discord among team members.</li>
</ul>
<p>Let's examine the OODA Loop's first two stages in detail.</p>
<p><strong>Stage 1: Observe</strong></p>
<p>The initial phase of the OODA Loop requires data collection, a thorough evaluation of the hazard or problem, and an understanding of the organizational and external context.</p>
<p>Observations influence the Decision Making process. If the OODA Loop's initial phase is flawed, the subsequent decision and action will also be flawed. In order to accurately appraise the unfolding situation, it is necessary to collect all the data regarding the current organizational state, competitors, and market during the Observation phase. This is essential prior to making a decision because, while rapidity is important, developing your analytical skills and being able to see what's actually happening are more important.</p>
<p><strong>Stage 2: Orient </strong></p>
<p>During the "Orientation" phase of the OODA Loop, information is acquired, analyzed, and a thorough comprehension of the situation is developed. This stage involves reflecting on the observations' findings and determining the subsequent actions.</p>
<p>During this phase, we endeavor to create a mental model of the environment or problem, considering our prior experiences and biases into consideration.</p>
<p>Interested in learning more about the other steps or stages of the OODA Loop? You can download <a href="https://flevy.com/browse/flevypro/ooda-loop-7101">an editable PowerPoint presentation on the OODA Loop here </a>on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p>
<p><strong>Do You Find Value in This Framework?</strong></p>
<p>You can download in-depth presentations on this and hundreds of similar business frameworks from the <a href="https://flevy.com/pro/library">FlevyPro Library</a>. <a href="https://flevy.com/pro">FlevyPro</a> is trusted and utilized by 1000s of management consultants and corporate executives.</p>
<p>For even more best practices available on Flevy, have a look at our top 100 lists:</p>
<ul>
<li><a href="https://flevy.com/top-100/strategy">Top 100 in Strategy & Transformation</a></li>
<li><a href="https://flevy.com/top-100/organization">Top 100 in Organization & Change</a></li>
<li><a href="https://flevy.com/top-100/consulting">Top 100 Consulting Frameworks</a></li>
<li><a href="https://flevy.com/top-100/digital">Top 100 in Digital Transformation</a></li>
<li><a href="https://flevy.com/top-100/opex">Top 100 in Operational Excellence</a></li>
</ul>
<p> </p>
<p> </p>
<p> </p></div>A 2-pronged Systematic Strategy to Develop Executives Decision Making Acumenhttps://globalriskcommunity.com/profiles/blogs/a-2-pronged-systematic-strategy-to-develop-executives-decision-ma2022-04-09T10:52:17.000Z2022-04-09T10:52:17.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><a href="{{#staticFileLink}}10310709879,original{{/staticFileLink}}"><img class="align-right" src="{{#staticFileLink}}10310709879,RESIZE_400x{{/staticFileLink}}" width="300" alt="10310709879?profile=RESIZE_400x" /></a>At all levels of a corporation, key decisions have to be made quickly. This is particularly critical at the strategic level, when senior executives are expected to have an exceptional talent for systematic and organized decision-making. However, this is not simple, and there is also no clear path to follow.</p><p>There is a plethora of studies and thought leadership around <a href="https://flevy.com/browse/marketplace/complete-guide-to-business-strategy-design-375">formulating and implementing strategy</a>—but little on <a href="https://flevy.com/browse/stream/leadership">maturing into a leader</a> with exceptional judgment abilities. Chief Executive Officers are frequently asked to develop their own executive on-the-job training programs for their managers and key executives in order to sharpen their strategic thinking and judgment abilities.</p><p>While making decisions, executives must make trade-offs, weighing the numerous available options. Executives find it difficult to choose the most viable option from a finite number of possibilities, as they want to keep all of their options open.</p><p>For leaders, <a href="https://flevy.com/browse/flevypro/executive-decision-making-acumen-6142">Decision Making Acumen is a matter of survival</a>. For CEOs, for example, it is critical to do a detailed evaluation of the benefits and drawbacks of entering a certain market prior to forwarding the case to the board for approval. They must determine which geographies to select and how to do so.</p><p>The ability to make smart decisions enables individuals to consider the big picture and think long term rather than focus primarily on short-term rewards. Executives with Decision Making Acumen are able to say no to poor business decisions.</p><p>An organized approach is essential to <a href="https://flevy.com/business-toolkit/decision-making">develop CEOs' judgment and decision-making abilities</a>. Such a systematic approach to increasing an executive's Decision Making Acumen should include the following components:</p><ol><li><strong>Grasp on Reality</strong></li><li><strong>Strategic Choice Cascade</strong></li></ol><p><strong><a href="{{#staticFileLink}}10310513480,RESIZE_1200x{{/staticFileLink}}"><img class="align-center" src="{{#staticFileLink}}10310513480,RESIZE_710x{{/staticFileLink}}" alt="10310513480?profile=RESIZE_710x" width="710" /></a></strong></p><p>Understanding these two components enables CEOs to establish priorities, communicate their reasoning clearly, stay firm in their judgments, and encourage others to follow.</p><p>Now, let us explain why it is critical for leaders to have a clear grasp on reality as they develop Decision Making Acumen.</p><p><strong>Grasp on Reality</strong></p><p>Executives frequently have an inclination to perceive evidence in a way that conforms to their established views. This cognitive bias can cause them to misjudge situations. The first component of the strategy emphasizes the critical nature of removing biases and preconceived notions from the decision-making process. Executives with Decision Making Acumen make conclusions after doing a thorough study of the matter, setting aside personal biases and accepting facts.</p><p>Preconceived assumptions and a refusal to accept reality results in failures. For instance, under the assumption that expanding into economies such as Brazil would be simple due to innovation and brand equity in other markets, Proctor and Gamble invested extensively in the country to establish the distribution of their oral care business. P&G was unaware that Colgate had invested twice as much in the oral-care business and had created a huge distribution network in Brazil, resulting in enormous brand loyalty for its products. This mistake cost P&G millions of dollars in market share and forced the company's executives to rethink their growth strategy.</p><p>Interested in learning more about the other element of the systematic approach to Decision Making? You can download <a href="https://flevy.com/browse/flevypro/executive-decision-making-acumen-6142">an editable PowerPoint on <strong>Executive Decision Making Acumen</strong> here</a><u> </u>on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><h3>Do You Find Value in This Framework?</h3><p>You can download in-depth presentations on this and hundreds of similar business frameworks from the <a href="https://flevy.com/pro/library">FlevyPro Library</a>. <a href="https://flevy.com/pro">FlevyPro</a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:</p><p>“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”</p><p>– Bill Branson, Founder at Strategic Business Architects</p><p>“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”</p><p>– David Coloma, Consulting Area Manager at Cynertia Consulting</p><p>“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”</p><p>– Roderick Cameron, Founding Partner at SGFE Ltd</p><p> </p></div>Green Tourism Strategy: 3 Key Phaseshttps://globalriskcommunity.com/profiles/blogs/green-tourism-strategy-3-key-phases2021-11-15T18:43:40.000Z2021-11-15T18:43:40.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><a href="https://flevy.com/business-toolkit/tourism"><img class="alignright size-medium wp-image-2291 align-right" src="http://powerpointing-templates.com/wp-content/uploads/2021/11/Tourism-Strategy2-200x300.jpg" alt="Tourism Strategy2" width="200" height="300" /></a>Tourism is a key element in creating an impetus for financial growth across the globe. The sector was providing jobs to around 260 million people and contributing to over 10% in global GDP, based on 2010 numbers. These numbers will grow in future.</p><p>However, these financial benefits do not occur without costs that have the potential to destroy popular destinations and disrupt tourism. Costs—or adverse effects—of travel involve:</p><ul><li>Massive carbon footprints produced by air travel</li><li>Changes in the clean environments due to human footprint</li><li>Degradation—or obliteration—of ecology because of travel</li><li>Climate change happening across the world—e.g., unpredictable weather, mounting sea levels, or land turning into deserts.</li></ul><p>Tourism Research by UK’s Devon County Council reveals that tourists were considerate of environment when booking their travel, and were willing to pay more for green tourist destinations. Tour operators, in turn, now regularly rank destinations based on their green services and products, and demand higher green standards from tourist resorts.</p><p>However, still a large majority of resorts, hotels, and tourist destinations fall behind in terms of environmental sustainability, green standards, and services. Some are only hinging on marketing tactics, glossy brochures, and eco-friendly language. These destinations are only eyeing near-term gains, and are at a high risk for draining their resources, environmental degradation costing fortunes to repair, and losing a sizable potential customer base.</p><p>Tourist destinations are facing critical environmental issues—e.g. clean water, carbon emission, protection of biodiversity, and waste reduction / disposal. These issues necessitate commitment from all stakeholders and having proper structures and systems—i.e. regulations, stakeholders’ education, funding, marketing, and public relations—to regulate and promote <a href="https://flevy.com/browse/flevypro/sustainable-tourism-5947">Sustainable Tourism</a>.</p><p>Above all, confronting these issues demand a coherent, carefully-crafted <a href="https://flevy.com/browse/flevypro/green-tourism-strategy-5957">Green Tourism Strategy</a>. The challenge to devising a Green Tourism strategy is the uniqueness of each destination—in terms of culture, ecology, resources. Thus, each destination warrants a bespoke strategy encompassing 3 key phases:</p><ul><li><strong>Appraising Environmental Health</strong></li><li><strong>Plotting the Green Journey</strong></li><li><strong>Implementing the Green Strategy</strong></li></ul><p><a href="https://flevy.com/browse/flevypro/green-tourism-strategy-5957"><img src="https://flevy.com/blog/wp-content/uploads/2021/11/Tourism-Strategy.png" alt="" width="595" height="450" /></a></p><p>Let’s take a closer look at the first 2 phases.</p><h3><strong>1. Appraising Environmental Health</strong></h3><p>The first step to devising a Green Tourism Strategy entails carrying out a thorough baseline analysis of the existing environmental health status of the tourist location, to outline its strengths and weaknesses. This should encompass <a href="https://flevy.com/browse/flevypro/benchmarking-primer-1976">Benchmarking</a> the site’s performance in comparison to global environmental best practices and defining what needs to be done in the near as well as long term (key initiatives), in the order of their importance for the destination.</p><h3><strong>2. Plotting the Green Journey</strong></h3><p>This phase entails defining the vision for Green Tourism and taking into account the objectives to realize that vision. The vision enables the policymakers to plan and choose the measures to be taken to maintain the sustainability of the destination. These measures fall into 2 categories:</p><ul><li>Preventive measures—meant to inhibit or avert any damage to the surrounding ecosystem of the destination. These initiatives are aimed at finding and employing cost-effective solutions and technologies rather than using modern technologies. These initiatives suit locations with limited funds.</li><li>Radical measures—meant for those destinations that are financially sound and want to maintain their status of being leaders in green tourism. These sites are always ready to adopt cutting-edge technologies to safeguard their eco-friendly status.</li></ul><p>Interested in learning more about the key phases of <a href="https://flevy.com/browse/flevypro/green-tourism-strategy-5957">Green Tourism Strategy</a>? You can download <a href="https://flevy.com/browse/flevypro/green-tourism-strategy-5957">an editable PowerPoint on <strong>Green Tourism Strategy </strong>here </a>on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><h3><strong>Do You Find Value in This Framework?</strong></h3><p>You can download in-depth presentations on this and hundreds of similar business frameworks from the <a href="https://flevy.com/pro/library">FlevyPro Library</a>. <a href="https://flevy.com/pro">FlevyPro</a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:</p><p>“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”</p><p>– Bill Branson, Founder at Strategic Business Architects</p><p>“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”</p><p>– David Coloma, Consulting Area Manager at Cynertia Consulting</p><p>“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”</p><p style="text-align:right;">– Roderick Cameron, Founding Partner at SGFE Ltd</p></div>Robotic Process Automation Trends That Transform Businesses Into User-Centric Oneshttps://globalriskcommunity.com/profiles/blogs/robotic-process-automation-trends-that-transform-businesses-into2020-03-23T07:37:25.000Z2020-03-23T07:37:25.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p>Robotic process automation (RPA) has provided enterprises with diversity and better capabilities to adopt as well as to adapt to changes. <a href="https://www.kbvresearch.com/robotic-process-automation-market/">Robotic process automation</a> services have made this possible by transforming business processes into convenient and user-centric ones. Recent years have witnessed phenomenal growth in the adoption of RPA in the corporate world.</p><p><a href="{{#staticFileLink}}8028314288,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028314288,original{{/staticFileLink}}" class="align-center" alt="8028314288?profile=original" /></a></p><h2>What is robotic process automation?</h2><p>Simply put, robotic process automation tools help to configure the existing computer software. The tools are capable of replicating and implementing a human’s actions who work within digital systems to carry out a business process. The robots use a user interface to gather data and monitor applications like humans. They can also interpret, trigger responses, and connect with other systems to work on several repetitive tasks.</p><h2>Factors that lead to a wide-ranging adoption of robotic process automation solutions</h2><p>Although RPA software can be used across all sectors, the leading adopters are insurance companies, banks, telcos, and utility companies. Many organizations have always had several legacy systems and opt for RPA solutions to ensure integration efficiency. The capability to incorporate legacy systems is a key driver of robotic process automation projects. By using this technology, enterprises can boost their digital transformation activities rapidly, while at the same time maximize the benefits of previous technology investments.</p><p>Large-scale software companies either collaborate with or acquire an RPA software provider, which means they are raising awareness and adoption of RPA software among their large base of customers. At the same time, new entrants seize the opportunity to adapt traditional RPA systems to digital business needs, such as the management of event streams and real-time analytics. For robotic process automation providers, this can work as a major opportunity.</p><h2>Some of the key applications of RPA solutions:</h2><h3>Banking, financial services and insurance (BFSI)</h3><p>Banking & finance-oriented robotics is primarily associated with the use of a powerful robotic process automation software to install desktop and other robots at the end-user device level. It also helps create a workforce or virtual assistants for artificial intelligence. RPA in the banking industry serves as a useful tool for addressing the banking sector's pressing demands and helping them optimize their productivity by cutting costs with the service-through-software model. Banks and financial institutions are taking a pragmatic, not tactical, approach to capturing this opportunity.</p><h3>Retail</h3><p>The retail sector crisis is well-known to the world. Retail is facing a challenge due to the increasing complexity of every industry due to changing customer demands and growing user satisfaction requirements.</p><p>Robotic process automation or RPA is an optimal solution that can be used to balance exponential growth and related complexities. Retail robotic process automation can automate and efficiently enhance the workflow of most of these routine activities, such as customer engagement, inventory management, loyalty scheme management, customer complaint management, bill generation, and business reporting.</p><h3>Healthcare</h3><p>The healthcare industry outside of artificial intelligence has provided numerous possibilities for automation. Robotic process automation (RPA) technology can support healthcare organizations with different usage cases involving data transfer and clinical documentation. Moving important information from the frontend of the company to its deeper business processes is one of the most common use cases of robotic process automation in healthcare and many other approaches arise from this concept.</p><p>The use scenarios of robotic process automation in the healthcare industry involve moving data between the area where users input and interact with the data and the databases where the data is usually stored. These can provide benefits to healthcare companies by making clinical documentation more available, freeing up frontend employees through providing self-service and make improvements in payments.</p><h2>What’s trending in the robotic process automation industry?</h2><h3>Intelligence automation will prevail</h3><p>Intelligence Automation (IA) has existed with different perspectives for a long time. IA usually includes combining process automation with machine learning, a cognitive discipline of Artificial Intelligence in the sense of robotic process automation. The corporate sector will be opting for a fully integrated IA method in the coming period to find values in both workplace capability and overall efficiency.</p><p>Another notable pattern will be that of excellent coordination across the digital workforce management between the digital workforce and human talent. In a nutshell, Intelligent Automation is ready to take a giant leap in the coming years to achieve optimum results. In addition, AI-powered automation and rules-based RPA services will lead to IA widespread adoption.</p><h3>RPA for security</h3><p>Robotic process automation is most commonly considered as a tool for efficiency and efficacy. Reducing or performing repetitive manual processes is efficiency in itself. RPA and various forms of automation will become an increasingly obvious piece of data security methodologies, not because there will be a multitude of bots fighting threats on the front lines, but as they can help to reduce the most common risk of all: human error.</p><p>Work today is going faster than ever and increasingly from on the go, making the task of protecting sensitive data from human error progressively difficult and powerless. As significant data streams across businesses, through dissimilar organizations, partners, apps, mists, vendors, and customers, the old-school, human-only way of dealing with data security essentially cannot scale up to handle this downpour information, which can trigger costly mistakes.</p><h3>Better employee engagement and customer experience</h3><p>Employee engagement is the key to survival. Employees in companies are the faces of any company. They take care of the companies by offering customer support in terms of delivering technical support solutions. Eventually, it is the most essential part of operations as every company wants their operations to become flexible.</p><p>Employee engagement is essential to every company in this process and to improve this, robotic process automation becomes an inevitable technology. Nowadays businesses are more focused on customer satisfaction, and they give higher importance to customer handling and answering their queries. Digital technology introduced an option for sending queries online to make it simple. Robotic process automation is one step ahead- making businesses compatible with consumers brings more choices including automated chat. This will boost customer experience and build brand loyalty.</p><h2>Here’s what industry giants are up to:</h2><p>Jul-2019: NICE has released version 7.1 of Robotic Process Automation. This version aimed to promote the comprehensive and rapid development of automation and ensure the sustainability of a business. It allows efficient management of the robotic and human workforce.</p><p>Oct-2019: Automation Anywhere, Inc. launched Automation Anywhere Enterprise A2019, the world's first Digital Workforce platform, entirely web-based, cloud-native. The platform provides RPA-as-a-service to any company or consumer anywhere in the world, through any distribution channel. The platform has been made available on-premise, and in any public, private or hybrid cloud.</p><p>Dec-2019: Verint introduced a new analytics solution, Robotic Process Automation Discovery. This solution was designed to help companies speed up their intelligent automation programs in time-to-value.</p><p>Feb-2020: NICE launched an all-inclusive automation package, NEVA Unlimited. This package was created to drive successful applications of automation. Companies purchasing NEVA will now get complimentary unattended robots for automation.</p><h2>To conclude</h2><p>The robotic process automation market is here to stay and the coming years are not different when it comes to the escalated prevalence of RPA solutions. RPA can provide an effective solution to many repetitive business processes, whether it is process automation or managing legacy processes. In short, robotic process automation is all set to play a vital role in bringing companies to the next level by digital transformation.</p><p><strong>Free Valuable Insights:</strong> <a href="https://www.kbvresearch.com/news/robotic-process-automation-market/">Global Robotic Process Automation Market to reach a market size of USD 7.2 billion by 2025</a></p><p>Large businesses and small and medium-sized enterprises can leverage the advantages of RPA and give their customers better services. Of course, we should expect RPA to be mainstreamed in the corporate sector in the coming years and become a standard for businesses of all sizes and sizes.</p></div>Business Process Reengineering (BPR) Implementation Guidelines: Preventing the Risk of Failurehttps://globalriskcommunity.com/profiles/blogs/business-process-reengineering-bpr-implementation-guidelines2020-03-13T06:00:00.000Z2020-03-13T06:00:00.000ZJoseph Robinsonhttps://globalriskcommunity.com/members/JosephRobinson808<div><p><a href="https://flevy.com/business-toolkit/business-process-re-engineering">Business Process Reengineering (BPR)</a> can be a great success but it can also be a great failure.<a href="http://flevy.com/blog/wp-content/uploads/2019/11/pic1-Business-Process-Reengineering-Implementation-Guidelines-200x300.jpeg" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/11/pic1-Business-Process-Reengineering-Implementation-Guidelines-200x300.jpeg?profile=RESIZE_710x" width="200" class="align-right" alt="pic1-Business-Process-Reengineering-Implementation-Guidelines-200x300.jpeg?profile=RESIZE_710x" /></a></p><p>After months or years of careful redesign, organizations can achieve dramatic improvements in individual processes. However, a paradoxical outcome has become almost a commonplace. Organizations suddenly find themselves watching the overall results decline. Process costs were reduced by 34% yet operating income stalls. Claims process time cut by 44% yet profits drop. It seems that organizations are squandering management attention and other resources on projects that look like winners but fail to produce bottom-line results for the business unit as a whole.</p><p>Reengineering can actually deliver revolutionary process improvements and many organizations have been undertaking major reengineering effort. However, like any major change program, a reengineering project can produce lasting results only if it is designed and implemented the right way.</p><h3><strong> </strong><strong>Implementing Business Process Reengineering</strong></h3><p><a href="https://flevy.com/browse/flevypro/business-process-reengineering-bpr-implementation-guidelines-3979">BPR implementation</a> is a series of waves that can wash over the organization for years, leaving a system for <a href="https://flevy.com/business-toolkit/continuous-improvement">continuous improvement</a>. It must be undertaken with a clean slate approach to process design. Only then can companies avoid a classic reengineering pitfall of focusing on fixing the status quo.</p><p>Implementation of the Business Process Reengineering requires that new infrastructures are planned and built to support this <a href="https://flevy.com/browse/stream/transformation">Business Transformation</a>. The full commitment of senior executives on its redesign and implementation must also be present to ensure the success of the reengineering project.</p><p>It is essential that organizations have a good understanding of the success factors, as well as root causes of failure. While reengineering projects can succeed, it can also fail. There are 4 practices that are the most damaging.</p><h3><strong>The 4 Root Causes of Failure</strong></h3><p>The <a href="https://flevy.com/business-toolkit/root-cause-analysis">root causes</a> of failure remain a challenge for organizations. These are 4 causes they must watch out for to achieve a successful BPR implementation.<a href="https://flevy.com/browse/flevypro/business-process-reengineering-bpr-implementation-guidelines-3979" target="_blank"><img src="http://flevy.com/blog/wp-content/uploads/2019/11/pic2-Business-Process-Reengineering-Implementation-Guidelines-1024x768.png?profile=RESIZE_710x" width="750" class="align-full" alt="pic2-Business-Process-Reengineering-Implementation-Guidelines-1024x768.png?profile=RESIZE_710x" /></a></p><ol><li><strong> Assign average performers</strong>. This is the tendency of organizations to enlist average performers from headquarters. This often happens because of an existing belief that assigning top performers will affect the business unit’s performance.</li></ol><ol start="2"><li><strong>Measure only the plan</strong>. Measuring only the plan happens when there is a lack of a comprehensive measurement system. The organization also fails to track whether the implementation is succeeding or failing.</li></ol><ol start="3"><li><strong>Settle for the status quo</strong>. Settling for the status quo is a very deadly decision or reaction. When this happens, aspirations are never translated into reality. There exists the inability to think outside existing skill levels, organizational structure, or system constraints. Further contributing to this is the existence of <a href="https://www.americanexpress.com/en-us/business/trends-and-insights/articles/power-tripping-5-ways-to-help-manage-office-politics-and-infighting/">political infighting</a> on incentives and information technology during implementation. When this exists, often the decision is to maintain a status quo that could be debilitating to the organization.</li></ol><ol start="4"><li><strong>Overlook communication</strong>. During BPR implementation, there is a tendency to overlook communication. Probably due to a lack of proper understanding, the level of communication is underestimated during implementation. Often, communication is done using memos, speeches, or PR videos. While these may have its purpose, at times these methods can be limiting.</li></ol><p>BPR implementation requires a small group format where employees can give feedback and air their concerns. This may be time-consuming but it is important. In fact, organizations must create a comprehensive communication program that uses a variety of methods of communication. When this is undertaken, the chances of succeeding during the BPR implementation is high.</p><p>BPR implementation is most crucial. Hence, organizations must have a keen eye, as well as strong <a href="https://flevy.com/browse/stream/leadership">leadership development</a> and commitment, to pursue it despite its challenges. BPR implementation is a series of waves that can wash over the organization for years. Hence, a system of continuous improvement must be in place.</p><p>Interested in gaining more understanding of <a href="https://flevy.com/browse/flevypro/business-process-reengineering-bpr-implementation-guidelines-3979">Business Process Reengineering (BPR) Implementation Guidelines</a>? You can learn more and download an <a href="https://flevy.com/browse/flevypro/business-process-reengineering-bpr-implementation-guidelines-3979">editable PowerPoint about <strong>Business Process Reengineering (BPR) Implementation Guidelines</strong> here</a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><p><strong>Are you a management consultant?</strong></p><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>Are You Interested In Transforming Your Traditional Warehouse into a Lean Warehouse?https://globalriskcommunity.com/profiles/blogs/are-you-interested-in-transforming-your-traditional-warehouse2020-02-24T07:23:34.000Z2020-02-24T07:23:34.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><a href="{{#staticFileLink}}8028307876,original{{/staticFileLink}}" target="_blank"><img class="align-right" src="{{#staticFileLink}}8028307876,original{{/staticFileLink}}" alt="8028307876?profile=original" width="590" /></a></p><p>As the last decisive step in customer service, a warehouse ensures cost effective distribution. Latest technological innovation has turned warehousing into a competitive advantage. It offers untapped potential for improvement. However, warehousing is a hugely neglected part of global supply chains. There is inconsistency in picking, packing and shipping orders, storing receipts, and managing inventory and logistics operations.</p><p>These and the following roadblocks in the way of smooth warehousing operations and Lean Management exist in every traditional warehouse:</p><ul><li>Lack of focus on acquiring technology to facilitate in improving efficiency and quality.</li><li>Inability to utilize a structured approach to ascertain the reasons for poor performance.</li><li>Lack of a big picture viewpoint pertaining to processes, costs, or external supply chain partnerships.</li><li>Absence of a continuous improvement culture to achieve warehouse operations excellence.</li><li>Lack of communication, organization, and proper training of resources.</li></ul><p>These shortcomings call for implementing <a href="https://flevy.com/browse/flevypro/lean-warehousing-transformation-4056">Lean Warehousing</a> methodology to unlock improvement opportunities and savings in operational, efficiency, and maintenance related costs. First initiated by Toyota, the Lean Warehousing approach has a deep emphasis on eliminating 3 basic limitations: waste, variability, and inflexibility. The Lean Warehousing methodology focuses on the following 3 improvement areas:</p><ol><li><strong>Cost Reduction</strong></li><li><strong>Customer Quality</strong></li><li><strong>Service Levels</strong></li></ol><p><a href="https://flevy.com/browse/flevypro/lean-warehousing-transformation-4056"><img class="aligncenter size-full wp-image-6395" src="http://flevy.com/blog/wp-content/uploads/2020/02/Lean-Warehousing.png" alt="" width="1000" height="751" /></a></p><h4><strong>Cost Reduction</strong></h4><p>The Lean Warehousing methodology concentrates on increasing productivity and reducing operating costs. This is achieved by:</p><ul><li>Cutting undue walking and searching</li><li>Preventing needless replenishment, reworks, waiting times, and double handling</li><li>Upgrading demand and capacity planning and manpower allocation</li></ul><h4><strong>Customer Quality</strong></h4><p>A Lean Warehouse seeks to take the customer quality to the next level by avoiding:</p><ul><li>Order deviations</li><li>Picking errors</li><li>Damaged goods</li></ul><h4><strong>Service Levels</strong></h4><p>Improving service levels is at the center of a Lean Warehousing methodology, which involves:</p><ul><li>Reducing lead times</li><li>Enhancing on-shelf availability</li></ul><h3><strong>Lean Warehousing Transformation</strong><strong><br /> </strong></h3><p>Lean Warehousing Transformation entails streamlining operations to identify waste, know how to increase service levels, implement standardization and innovative ideas, and learn to evaluate and manage performance. Such transformation becomes a reality in an experiential learning environment and by developing organizational capabilities in 3 critical areas:</p><ol><li><strong>Operating System</strong></li><li><strong>Management Infrastructure</strong></li><li><strong>Mindset and Behaviors</strong></li></ol><h4><strong>Operating System</strong></h4><p>The organizational capability to configure and optimize all company physical assets and resources to create value and minimize losses. The focus areas under operating systems include eradicating variability, encouraging flexibility, and promoting end-to-end design.</p><h4><strong>Management Infrastructure </strong></h4><p>The organizational capability to strengthen formal structures, processes, and systems necessary to manage the operating system to achieve business goals. The focus areas under Management Infrastructure are <a href="https://flevy.com/browse/stream/performance-management">performance management</a>, <a href="https://flevy.com/browse/stream/organizational-design">organizational design</a>, capability building, and functional support process.</p><h4><strong>Mindset and Behaviors</strong></h4><p>The organizational capability to manage the way people think, feel, and act in the workplace individually as well as collectively. The target areas to focus on here include a compelling purpose, collaborative execution, up-to-date skills, drive to improve, and committed leadership.</p><h3><strong>Model Warehouse Implementation</strong></h3><p>Lean Warehousing Transformation necessitates developing a “Model Warehouse,” which presents facilities for supply chain people to practically experience state-of-the-art warehouse operations in a modern warehouse and shop-floor environment. The Model Warehouse incorporates newest technology and systems, and offers real-life conditions for building capabilities—i.e., optimization of storage, pick and pack, and dispatch processes. Newest technologies—e.g., Smart Glasses and HoloLenses—available at the facility help improve the performance of pickers significantly and execute multi-order picking efficiently.</p><p>Such a setting allows people to observe and analyze the performance of an exemplary warehouse and implement this knowledge at their own premises. Leading organizations organize a week-long rigorous knowledge sharing workshop—in an experiential learning environment of a Model Warehouse—for their people to have a hands-on experience to learn Lean Warehousing, actual picking, packing, root cause analysis, and performance management. The participants of the Model Warehouse Knowledge Sharing Workshop are excellent candidates for “change agents” to implement Lean Transformation.</p><p>Interested in learning more about Lean Warehousing, Model Warehouse Implementation, and Lean Warehousing Transformation? You can download <a href="https://flevy.com/browse/flevypro/lean-warehousing-transformation-4056"><u>an editable PowerPoint on <strong>Lean Warehousing Transformation</strong> here</u></a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><h3><strong>Are you a Management Consultant?</strong></h3><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>Wireless Charging Market Forecast and Industry & Trends (2018-2023)https://globalriskcommunity.com/profiles/blogs/wireless-charging-market-forecast-and-industry-amp-trends-20182019-08-14T08:00:00.000Z2019-08-14T08:00:00.000ZBIS Researchhttps://globalriskcommunity.com/members/BISResearch<div><p>The global wireless charging market was valued at $XX billion in 2017 and is projected to reach $XX billion by 2023, registering a compound annual growth rate (CAGR) of XX% between 2018 and 2023. Wireless charging or power transfer takes place when energy is transferred as electromagnetic waves from a transmitter to a receiver. Inductive wireless charging is currently the most adopted solution for wireless charging and accounts for approximately XX% of the global wireless charging market in 2017.</p><p><strong>Browse the Full TOC "Wireless Charging Industry"</strong></p><p><strong><a href="https://bisresearch.com/industry-report/wireless-charging-market.html">https://bisresearch.com/industry-report/wireless-charging-market.html</a></strong></p><p>The global wireless charging market is driven by several factors such as increased shipments of smartphones and other wearable devices, standardization of regulations for wireless charging, and increasing in-built wireless charging options in various applications such as tables, side stools, and in-vehicles. Innovations and ongoing research in the consumer electronic devices such as smartphones and wearable devices have been fuelling the growth for wireless charging market. Wireless charging is the next big thing in the smartphone industry, and many manufacturers have already started manufacturing smartphones enabled with wireless charging. However, the majority of the phones with wireless-enabled technology fall under the premium smartphone category at present. As the market grows and the demand for wireless power transmission increases, the technology will be embedded in more and more devices such as drones, laptops and handheld devices, among othersand mid and low-range devices as well.</p><p><strong>Request the Sample @ <a href="https://bisresearch.com/requestsample?id=645&type=download">https://bisresearch.com/requestsample?id=645&type=download</a></strong></p><p>Companies such as Samsung Electronics Co. Ltd., Google LLC, LG Electronics Inc., Microsoft Corporation, Apple Inc., and Motorola Inc., have already incorporated wireless charging in the smartphones. Additionally, the establishment of New Jersey-Based-Wireless Power Consortium (WPC, a multinational technology consortium, estb.2008) has been a landmark in the wireless charging market, as it has paved the way for the manufacturers to get their products certified, which are then accepted globally.</p><p>The increasing demand for smartphones in the coming years along with other devices such as a smartwatch, tablets, and laptops is expected to fuel the demand for wireless power transmission in the coming years.</p><p><strong>Related Reports:</strong></p><p><strong><a href="https://bisresearch.com/industry-report/global-electric-vehicles-market-2026.html" target="_blank">Global Electric Vehicles Market, Analysis & Forecast – 2017-2026</a></strong></p><p><strong><a href="https://bisresearch.com/industry-report/global-electric-vehicles-battery-market-2026.html" target="_blank">Global Electric Vehicles Battery Market - Analysis & Forecast – 2017-2026</a></strong></p><p><strong>About Us:</strong></p><p>BIS Research is a global market intelligence, research and advisory company which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market over the next five (or ten) years.</p><p>With over 150 market intelligence reports published annually, BIS Research focuses on various technology verticals such as 3D printing, advanced materials & chemicals, aerospace and defense, automotive, healthcare, electronics & semiconductors, robotics & UAV and other emerging technologies.</p><p>Each research report incorporates detailed analysis and subsequent quantification of- market dynamics, market drivers and restraints, opportunities, threats, market shares, current and emerging industry trends as well as detailed competitive landscape and intelligence.</p><p><strong>Contact:</strong></p><p><strong>39111 PASEO PADRE PKWY STE 313,</strong></p><p><strong>FREMONT CA 94538-1686,</strong></p><p><strong>E-mail : sales@bisresearch.com</strong></p><p><strong>Call Us : +1-510-404-8135</strong></p></div>Acceptance of mediocrityhttps://globalriskcommunity.com/profiles/blogs/acceptance-of-mediocrity2018-06-05T05:07:12.000Z2018-06-05T05:07:12.000ZBryan Whitefieldhttps://globalriskcommunity.com/members/BryanWhitefield<div><p style="text-align:left;"><a href="{{#staticFileLink}}8028272058,original{{/staticFileLink}}"><img width="750" src="{{#staticFileLink}}8028272058,original{{/staticFileLink}}" class="align-right" height="251" alt="8028272058?profile=original" /></a>In my first book, <em>DECIDE: How to manage the risk in your decision making</em>, I made the statement “…in my experience, an acceptance of mediocrity and an acceptance that projects (and decision making) are difficult are the norm in the vast majority of organisations.”</p><div class="post_content"><p>In the simplest terms, when you are advising you are influencing a decision. Every one of us has been frustrated when someone has chosen not to take our advice. Whether we are a parent, a salesperson or an internal adviser to a business leader, we criticise them as impudent, misguided or arrogant. Or we defend our failure to get them to listen and act on our advice.</p><p>Much research has been conducted in recent years into the psychology of decision making. We know a great deal about the reasons people do or don’t take advice. And we know each of us has deep-seated psychological biases — some genetic, some learned in our formative years and some a response to particular events in our lives. These biases influence our decision making in positive and negative ways, and represent both barriers and opportunities for those who are seeking to influence us.</p><p>We can no longer accept mediocrity in decision making. We won’t be able to get every decision right but we sure as hell can improve on the status quo. The tools to do so are available. You just need to seek them out and use them. If you do nothing else, anytime you are trying to influence someone use an analogy. Explain how it is like something they are familiar with. How about this one I heard recently in relation to the Royal Commission into misconduct in the Australian financial sector.</p><center><p></p><p>“If you want to get rid of the ants, take away the sugar!” <br /> (Apologies to whomever said it first, I heard it second hand)</p><p></p></center><div class="clear">___________________________________________________________________________________<br /><br /><br /></div><div class="clear"><p><a href="{{#staticFileLink}}8028269661,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028269460,original{{/staticFileLink}}" class="align-left" width="360" height="120" alt="8028269460?profile=original" /></a></p><p><br /> Bryan's new book teaches you practical methods to cut through with your advice and make the impact you want to make. Order <a href="https://www.bryanwhitefield.com.au/product/wcbook/" target="_blank">here</a> now.</p><p></p><p><br /><br /></p><p><a href="{{#staticFileLink}}8028259276,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028259276,original{{/staticFileLink}}" class="align-left" width="357" height="119" alt="8028259276?profile=original" /></a></p><h3><strong>YOUR DECISIONS DEFINE YOU.</strong></h3><p>Available on Amazon or order <a href="http://www.bryanwhitefield.com.au/product/decide-how-to-manage-the-risk-in-your-decision-making/" target="_blank">here</a> now.</p><p></p><p></p><p></p><p>Bryan Whitefield works with strategic leaders across all sectors to help organisations harness uncertainty – uncertainty is the strategic leader’s best friend. He is the author of <em>DECIDE: How to Manage the Risk in Your Decision Making</em> and <em>Winning Conversations: How to turn red tape into blue ribbon</em>. He is the designer of the <a href="https://www.bryanwhitefield.com.au/experts-need-advocates-whitepaper/" target="_blank">Risk Culture: Build Your Tribe of Advocates Program</a> for support functions and the <a href="http://www.bryanwhitefield.com.au/persuasive-advisor-training/" target="_blank">Winning Conversations: How to Engage Program</a> for internal advisors. Both can be booked individually or in-house. For more information about Bryan, please <a href="http://www.bryanwhitefield.com.au/about-bryan/" target="_blank">click here</a>.</p><p></p><p></p><p><a href="http://www.bryanwhitefield.com" target="_blank">www.bryanwhitefield.com</a></p><p></p></div><div class="clear"></div></div></div>Board of the Wrong Questionshttps://globalriskcommunity.com/profiles/blogs/board-of-the-wrong-questions2018-03-12T22:48:22.000Z2018-03-12T22:48:22.000ZBryan Whitefieldhttps://globalriskcommunity.com/members/BryanWhitefield<div><p><a href="{{#staticFileLink}}8028269687,original{{/staticFileLink}}"><img width="750" src="{{#staticFileLink}}8028269687,original{{/staticFileLink}}" class="align-right" height="192" alt="8028269687?profile=original" /></a>Last week my blog was about the need to <a href="https://www.bryanwhitefield.com.au/blog/experience-on-boards-needs-to-be-properly-tapped/" target="_blank">tap into board experience</a>. Today I write about how boards need to be asked the right questions to provide their experience, to lead. Executive teams should ask their boards quite explicitly:</p><ul style="list-style-type:disc;"><li><strong>About Risk</strong> – What risks do they see with the strategy? What emerging risks to the organisation do they see from their experience outside of the boardroom.</li></ul><ul style="list-style-type:disc;"><li><strong>About Opportunity</strong> – What opportunities do they see to improve the strategy? What opportunities do they see that the strategy is not grabbing?</li></ul><p>A board that understands the balancing act between risk and opportunity and are asked these questions is one that can provide outstanding stewardship to an organisation. Stewardship that will guarantee the organisation operates in the top quartile in its industry for a very long time to come.</p><p></p><p>___________________________________________________________________________________</p><p></p><p><a href="{{#staticFileLink}}8028259276,original{{/staticFileLink}}"><img src="{{#staticFileLink}}8028259276,original{{/staticFileLink}}" class="align-left" width="360" height="120" alt="8028259276?profile=original" /></a></p><p></p><p><strong>YOUR DECISIONS DEFINE YOU.</strong></p><p>Available on Amazon or order <a href="http://www.bryanwhitefield.com.au/product/decide-how-to-manage-the-risk-in-your-decision-making/" target="_blank">here</a> now.</p><p></p><p></p><p>Bryan Whitefield works with strategic leaders across all sectors to help organisations harness uncertainty – uncertainty is the strategic leader’s best friend. He is the author of <em>DECIDE: How to Manage the Risk in Your Decision Making</em>. He is the designer of the <a href="https://www.bryanwhitefield.com.au/experts-need-advocates-whitepaper/" target="_blank">Risk Culture: Build your Tribe of Advocates Program</a> for support functions and the <a href="http://www.bryanwhitefield.com.au/persuasive-advisor-training/" target="_blank">Winning Conversations Program</a> for internal advisors. Both can be booked individually or in-house. For more information about Bryan, please <a href="http://www.bryanwhitefield.com.au/about-bryan/" target="_blank">click here</a>.</p><p></p><p><a href="http://www.bryanwhitefield.com" target="_blank">www.bryanwhitefield.com</a></p></div>COSO Releases Two Additional Thought Papers on Enterprise Risk Managementhttps://globalriskcommunity.com/profiles/blogs/coso-releases-two-additional2011-01-15T15:17:49.000Z2011-01-15T15:17:49.000ZBoris Agranovichhttps://globalriskcommunity.com/members/BorisAgranovich<div><p>The first thought paper, Embracing Enterprise Risk Management: Practical Approaches for Getting Started, developed by Mark Frigo and Richard Anderson of the Center for Strategy, Execution, and Valuation at DePaul University, describes how an organization can begin implementing an ERM process. It also examines perceived barriers to effective ERM and how to work through those barriers. “Starting an ERM process is a daunting task for many organizations” said Anderson. “The paper provides an action plan that can be used as a tangible tool in ERM implementation.</p>
<p> </p>
<p><a href="http://www.coso.org/documents/EmbracingERM-GettingStartedforWebPostingDec110.pdf">http://www.coso.org/documents/EmbracingERM-GettingStartedforWebPostingDec110.pdf</a></p>
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<p>”COSO’s second thought paper, Developing Key Risk Indicators to Strengthen Enterprise Risk Management, developed by the ERM Initiative at North Carolina State University, discusses the importance of developing key risk indicators to be used to monitor emerging risks that might affect the strategic success of the enterprise. “Key risk indicators can serve as leading indicators of emerging risks that senior management and the board of directors can monitor to ensure that they don’t negatively affect the achievement of strategic objectives,” according to Mark Beasley, Deloitte Professor of Enterprise Risk Management and Director of North Carolina State’s ERM Initiative and co-author of this thought paper.</p>
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<p><a href="http://www.coso.org/documents/COSOKRIPaperFull-FINALforWebPostingDec110.pdf">http://www.coso.org/documents/COSOKRIPaperFull-FINALforWebPostingDec110.pdf</a></p>
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