Shaping the Future
A series of papers
and digital book
Risk is part of business life – avoiding it at best would result in stagnation.
Which is why, in a digital age of technological advances, managing risk has become a pre-requisite for every size of business, not just corporates.
In essence it’s about having and sustaining the infrastructure on which to more securely shape the future.
It isn’t just insurers who want the evidence. There is a re-appraisal taking place of where (and how) risk management it sits in a company’s mindset. Like governance, traditionally it has had negative, restrictive connotations, and like with insurance, often considered to be a distress purchase.
We are though realising the positive benefit of quantifying and being able to manage“the degree and effect of uncertainties on objectives,” and resulting improvements in efficiency and productivity.
“Rather than look at risk and governance just through the prism of compliance, it should be seen as a means of configuring your business so it can flourish,” one entrepreneur has suggested. “Then managing risk and governance becomes an assurance framework, a totemic reference point which for companies regardless of size is also of value for outside stakeholders looking at your business and for evidence that you satisfy their own compliance and (for example) ESG reporting.”
The owner-managed of a second generation family business likened it to the guard rails on a ten-pin bowling lane. “They are there to determine the parameters of the route of the ball, and because of that decisions can be made with more confidence – and quicker. Of course a corporate will have a CRO (chief risk officer – and staff!) to undertake the task.”
For the SHAPING THE FUTURE book, business owners and directors from across generations and market sectors share their thoughts with Chris Braniff, managing director of Pelican Insured and Larry Dillner, editor of DECISION magazine.
Leading up to publication, the latest conversation will be available here to download.
Latest Interviews
“In order to bring a new customer on board, we had to put a disaster recovery plan together with scenarios which included everything from flooding to a terrorist attack. Ridiculous really, I thought at the time. And then two months later the massive Ocado warehouse at the end of our road, filled with robots fuelled by lithium batteries, caught fire and burned dangerously out of control.”
Phil Rawnson
Managing Director of MRT Castings
ENABLING A POSITIVE CULTURE TO FLOURISH
“Governance has to be woven into the company rather than occasionally being applied like a stick of Semtex, otherwise people are more likely to rebel against it rather than seeing it as a safety net.
It’s a skill of good leadership to demonstrate why it’s important so people want to live and breathe it. I think the headline is that governance enables a positive culture to flourish.”
John Gosling
Managing Director of TJ Group
“Risk management is about continually asking yourself questions, starting with ‘is our existing market going to continue to be of a sufficient size’?
I think we’re all more aware and worried about risk, whether it’s financial, commercial or operational.”
James Walters
Managing Director of Walcon MarineWhat Next?
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