Last week I read an article by The Boston Consulting Group called Business of Business is No Longer Just Business. In it they describe the heightened levels of uncertainty facing business leaders using examples of political, economic and technology upheavals. They went on to describe five things leaders should embrace to manage complexity:

1. Build multilevel scenario analysis skills
   
2. Become more resilient
3. Shape the system
4. Recreate the narrative
5. Reframe leadership
   

In my mind they are asking leaders in org

Northwestern Mutual’s Digital Transformation: Redesigning IT

Source:

MIT-CISR

Author(s): Sebastian, Ina, Beath, Cynthia M., Ross, Jeanne W.

Type: Working Paper

Topics: Design/Management of the IT Unit, IT-based Business Transformation

Date: 2017-10-26

Abstract: While in 2017 Northwestern Mutual had been in business for 160 years, management believed that success in the digital economy would require delivering digital products and services to extend the value that customers were receiving from the compa

Digitized ≠ Digital

By:

Ross, Jeanne W.
Beath, Cynthia M.
Sebastian, Ina

MIT CIRS

Recently I was listening to an interview with retired Australian cricket captain Michael Clarke. He was asked how he felt when he scored his first century (100 runs) for Australia. He described incredibly strong emotions. The interviewer then commented how funny it was that a score of 98 had no comparison. Clarke agreed wholeheartedly.

It reminded me of a section in my book DECIDE How to Manage the Risk in Your Decision Making, titled Beware of Milestones. In it I tell stories about three elite s

As you likely know, GDPR (the EU’s new General Data Protection Regulation) takes effect in May 2018. Are you ready? If your organization stores or processes EU citizen or resident personal information – any information that can be used to directly or indirectly identify someone – you need to know about GDPR.

But did you also know you that you are responsible for the personal data managed by your third-party vendors? Enterprises are responsible for the EU personal data managed by their own third p

IT has become an integral part of many organizations, both small and large. While some companies have an in-house IT and software team, others prefer to outsource. In some instances, even the former at some point may need to outsource the services of an IT solution company. There are numerous IT companies in the market. As a result, it can be confusing to choose a suitable one. Below are some important things to consider when choosing an IT solution company.

1. Company’s previous work

Consider whethe

How To Measure The Business Value Of Your Digital Transformation: Can Industrial Era Metrics Mislead You Into The Wrong Decisions And Failed Digital Transformations?

Towards new holistic strategy execution measure of risk and performance for digital transformations

Over 50% of the “2000-Fortune 500” does not longer exist and according to Cisco’s John Chambers, “probably 40% of today’s businesses will fail in the next 10 to 15 years; 70% will attempt to transform themselves digitally, but only 30%

Think about how great this would be: Imagine that all of your company data is safe from hackers. Your hardware is totally safe and secure. You have IT specialists at your disposal at all times and have a constant flow of cash to pay them.

Unfortunately, this is a fantasy for most of us. No matter how secure we think our network is or how much we pay our IT people, there is always a chance for a data breach. Does this mean we should stop the fight, though? No way.

Instead of throwing in the towel,

Chipotle needs risk management rehab. In less than two years, the Mexican grill has changed CEOs twice in an effort to regain their once-held reputation as a beloved fast-food chain. A new CEO, however, isn’t the solution. Multiple cases of food-borne illness before, during, and since executive switch-ups have proven the restaurant needs to adopt a stronger enterprise risk management process.

Let’s consider a timeline of events:

• 2015 – coli outbreaks linked to Chipotle restaurants were detected by

The December 2017 Verizon Data Breach Digest focused on the use of cloud services and is worth a read. The Digest identified key issues that you should be aware of:

• Location of Systems and Data – If you need to access your cloud assets do you know where it is? Know that there are different rules governing cyber facilities in different jurisdictions which may, or may not, be a concern.
• Physical Access – If you need access to your data and services will it be allowed and facilitated?
• Forensic access

Join Global Risk Community for a webinar on How To Identify And Measure Your Strategy Execution Risk

What sank the Titanic and is sinking some of our great companies? What will separate future winners from losers?

50% of the Fortune 500 companies in the year 2000 do not longer exist because they were not able to measure and predict their strategy execution risk and link their decisions to the results of their decisions.

By the end of the webinar you will be in a better position to identify the ri

Steve, one of my clients, sent me this article from the Harvard Business Review Overcome Resistance to Change with Two Conversations. I liked the article for two reasons. One because it talks about conversations and I am nearly finished writing a new book called Winning Conversations: How to Engage (Even around Risk or Bad News) - watch this space. And the second because it talks about resistors, or as I referred to them in the subject line, poo poo-ers.

The resistors got my attention because so

Find more videos like this on GlobalRisk community

The business of petrol pump operations is long term in nature. It involves significant capital expenditure and license agreements. While the revenue earnings look attractive to most people, the owners of such businesses know that their operating expenditure (OPEX) is also huge.

Fuel retailers do need a steady supply of working capital to maintain the viability of their business in the industry. They must invest suitably in logistics, warehousing and restock fuel whenever the international market

Do you have employees who bring mobile phones to work and use those devices on the corporate network? Do they store company data on these “Bring Your Own Devices (BYOD)”?? Does your company have a policy in place for this?

First, the moment a person brings in their personal phone to work, there is a fusion of personal and business tasks that occur. And, equally as bad, company issued devices are used for personal use as much, if not more than the employees own devices. Not sure you believe this?

Today, we have an interview with Sufyan Khan. Sufyan Khan is our member and the Regional Product Manager of IFRS 9 and Tax from AxiomSL. Sufyan has more than 14 years of experience in the area of sales, client service, business development and product management. Over the past 7 years, he has helped clients to make informed decisions in the area of trading and best practices across enterprise-wide risk management.

As of 1st January 2018, institutions will need to comply with the new IFRS 9 st

2017 presented a whirlwind of corporate scandals: United Airlines, Wells Fargo, Facebook, Uber, Chipotle, Equifax, WannaCry…the list goes on and on. Many of these companies suffered second and even third scandals when they failed to learn their lesson from the first.

But for every company that’s suffered a failure in risk management, I believe there’s a company that’s looking over these headlines and doing everything they can to prevent a scandal of their own, for there are many lessons to be lea

If God Does Not Enforce "Intellectual Property" Then Why Should We?

By:

Enrique Suarez

http://www.wix.com/suarezenrique/delta

suarezenrique@yahoo.com

What is Intellectual Property?

Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.

IP is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent o

“With the Administration’s emphasis on the Reforming Government Executive Order and the OMB Memorandum issued in early 2017, the upcoming 2018 conference will explore how agencies can move from “ proposed reform” to “implementing reform”. Hear from experts both in and outside government regarding approaches to ensure success and overcome challenges.” David Mader Former Controller The White House Office of Management & Budget

Preparing for Government Reform

The Executive Order has been issued to re

New Free Video: How to Get Started with Lean

The first video in Gemba Academy’s new Gemba Talk series is "How to Get Started with Lean."

Watch it here:

This series will answer the most common questions we receive, and will remain free and won’t require registration. To ask a question, or view the second video (How Much Does a Lean Journey Cost?), go here

Thinking about enterprise-wide lean training in 2018?

Gemba Academy offers very flexible enterprise training programs so all of your sites can learn