A COVID framework is a lens to use RBPS and RBDM. ISO 31000:2018, an international standard, is a simple risk framework. Risk management, both upside and downside, can be defined as the ability to reach an objective, solve a tough problem, or make a smart decision. ISO 31000 has the following steps: Communicate and Consult. You solve problems or …
I think we now live in an era when many of the concerns in running organizations are being reframed in terms of risk, which suggests that risk professionals are likely to rise to the top. Harvard Business Review In Against the God: The Remarkable Story of Risk, the author says the mastery of risk is the …
Two roads diverged in a yellow wood, … Robert Frost – Author of The Road Not Taken Poem What roads have you taken in life and work? Did you have choices of multiple roads? Why did you make the choices you made? Or, did circumstances dictate the choice for you? How did you look at …
The essence of risk management lies in maximizing the areas where we have some control over the outcome while minimizing the areas where we have absolutely no control over the outcome. Peter L. Bernstein – Risk Author During COVID, we’re all VUCANs. This implies that each of us is inherently a risk manager. Why? Maybe, it’s …
I am not a product of my circumstances. I am a product of my decisions. Stephen Covey – Educator & Writer Life and work are all about making smart choices – specifically risk based, problem solving (RBPS) and deciding (RBDM). And quite frankly, it sucks for most VUCANs. It’s not easy in COVID time. Why? Because many …
What COVID tools and practices work from around the world? Will these practices be voluntary or required? Will there be widespread temperature checks, CCTV monitoring, rapid COVID test, contact tracing, cell phone QR codes, digital certificates, real time location approvals, which are used in Asia but in the west infringe on personal freedoms? All of …
All business proceeds on beliefs or judgments of probabilities, and not on certainties. Charles Eliot – President Harvard University Decision making in COVID time is changing. Fashionable acronyms are coined for today’s dominant decision making paradigms, which seem to be fear and anxiety based. Let’s look at a few: FOBO, the Fear Of Better Options, means that VUCANs can’t …
Here’s a test? When you look at a work, job, or career opportunity during COVID, do you see calamity or opportunity. Is the glass half full or half empty? Or, do you want to design a new glass container and fill it with your fluid of choice? The latter is the key question and attribute of …
We have a strategic plan. It’s called ‘doing’ things. Herb Kelleher – Founder Southwest Airlines I personally don’t like the word ‘execute.’ It’s negative. It implies a very unforgiving downside. However, get used to it in COVID time. You’ll be hearing it often. A little story may help explain the term. Most consultants, managers, and …
Change the things that can be changed, accept those that cannot, and have the wisdom to know the difference. Serenity Prayer VUCAN leadership often surfaces in a battle or pandemic, where the consequences of poor judgment are fatal. We believe that critical self management issues will surface for each of us in opportunity situations (upside risk) and …