decision-making

Why Quantitative Risk Assessment is Not Just the Best But the Only Option – A Conversation

Periodically, I have the pleasure of speaking one-on-one with Hans Læssøe on a variety of topics around ERM, strategic risk, and other issues and trends. As you know from my previous conversations (here, here) and posts featuring his work, Hans was formerly a practitioner at the iconic LEGO Company, but even more notably, is a…
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The Three Lines Model – 3 Reasons Why I Don’t Like It

Everyone likes a clear-cut template that offers an easy way to create or manage something…I mean what’s not to like about a step-by-step process for accomplishing what you want? Sometimes this can work without any issues, such as the case with the Project Management Book of Knowledge (PMBOK), ISO 9001 standard, or a new cooking…
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What Does an Ideal Strategic Planning Process Look Like?

The most recent quarterly issue of Carrier Management, a journal for helping property & casualty insurance executives better understand trends and challenges facing their industry, featured one of my articles on the strategic planning process. Like my other articles appearing in this journal, the following subject-matter is relevant to companies in any industry. While strategy…
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3 Underlying Components to Building a Successful Strategic Plan

Today’s business environment is nothing like I’ve seen at any other time in my life. Based on the various commentary out there, I suspect you can say the same. This turmoil is precisely why a proactive strategic plan is so crucial. This is also why I’m taken aback to know that many companies either have…
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scarcity mindset

How Scarcity Mindset Can Cripple Your Company’s Future

I don’t think it’s an understatement or cliché to say that the uncertainty gripping today’s business environment and overall economy is thick enough to cut with a knife. With inflation still stubbornly high and the odds of a recession increasing dramatically in recent months, companies are once again considering how to best navigate choppy waters.…
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Asking Unbiased Risk Assessment Questions

Originally coined by the U.S. Army War College in the early ‘90s, the acronym VUCA, short for volatile, uncertain, complex, and ambiguous, has become a popular term for describing today’s business environment. I agree this oft-repeated mantra could almost be considered cliché, but that doesn’t make it any less true. To make the best decisions…
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5 Steps to Shifting Board Oversight from Operations and Risk to Strategy

Contrary to popular belief, a Board of Directors, Trustees, or whatever title fits the corporate culture are not only for publicly traded companies. Simply referred to as the Board by most, it can be defined broadly as “…a group of individuals either elected or appointed to provide organizational leadership and oversight.” Following the Enron scandal…
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How to Move Past “Analysis Paralysis” – 5 Steps for Leaders

For this Independence Day week’s post, I would like to share the following article written for the most recent quarterly issue of Carrier Management, a journal exploring issues affecting executives of property & casualty insurance companies. (However, like previous guest articles in Carrier Management and elsewhere, this article can easily be applied to company leaders…
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The Importance of the First Five Minutes of Any Risk and Strategy Conversation

If there’s one thing I’ve learned writing articles for my risk and strategy blog is that considerable thought has to be put into the post’s title and opening lines. With a seemingly endless amount of content on the Internet, visitors will quickly whisk away if the title and intro to an article is not engaging…
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4 Simple Steps to a Speedy and Effective Decision

This may sound a little mundane, but with events and changes happening at what seems lightning speed in today’s world, companies of all types and industries need a way to make decisions quickly and effectively. Which is the core what an ERM program is supposed to do…support the company in making risk-informed decisions in pursuit…
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