Does your Business Need a Health Check?
We know that if we engage with health screening programs then, if there is something wrong, it is much easier to treat, and the outcomes tend to be much better. It is the same with the health of your business.
One of the most effective diagnostic tools to check the health of a business or organisation is by developing a strategic Risk Register. People often confuse this with Health and Safety but although it includes H&S there are 17 other possible risk categories.
Often with medical care needs, the longer you leave treatment, the fewer options you have. This can be true for treating company symptoms but if you undertake good horizon scanning then not only can you manage uncertainty, but you may have a whole range of risk responses that you could deploy.
I have worked with a range of different organisations who have been genuinely surprised by what they have uncovered through better understanding of Risk Management and how to apply it. Sometimes it exposes a few things people were choosing to work around but once identified it provides a valuable opportunity to assess and decide what residual risks the company are happy to live with – but then at least it is known.
Sometimes it also helps you uncover opportunities that you would not otherwise have taken the time to identify and consider.
Important thing to note. This is not a compliance framework.
It does not stipulate what you have to do or how you have to act but it does help you to decide what levels and types of risks you are consciously agreeing to take (setting your risk appetite appetite) and it allows you to focus on getting any areas where you feel the risk is too high and you want to look at your options on how to approach it for the best outcomes for your company.
Sessions can be undertaken virtually using MIRO or in person. The learning session takes 3 hours and covers
- Presentation Material covering Risk Management
- Risk Categories tailored to your sector
- Risk Identification Exercise
- Risk Appetite/ Risk Tolerance
- Creating a Risk Register
The Risk Register will then become one of your most used management tools helping your business sustainability and helping you assess and respond to the current and changing environment within which you operate.