decision-making

5 Steps to Avoiding Analysis Paralysis

By Carol Williams / August 24, 2021 /

Thoughtfulness is a wonderful trait and one my family and I strive for each day. In the professional setting, it’s also considered an essential leadership quality that ultimately yields better results for an organization. Individuals who process information more deeply than others can be called “sensitive strivers,” according to executive coach and author Melody Wilding…

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12 Resources to Help Guide Strategic Planning

By Carol Williams / August 19, 2021 /

As we near Labor Day and summer draws to a close, we’re also entering that time of year when organizations begin their strategic planning for the next calendar year. It seems that September and October are the best months for this important task since summer vacations are ending and the year-end holidays are still a…

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Disruptive Innovation: Obtaining Funding to Set your Company Apart

By Carol Williams / August 4, 2021 /

We take things like electricity, automobiles, and TV for granted today, but in their time, they represented disruptive innovations that transformed work, leisure, and family life. Disruptions like this have not slowed down; in fact, their pace and magnitude continue to grow. Consider that when telephone was invented in the mid-1870s, it took nearly 70…

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implementers

Ignoring Implementers of Strategic Decisions – Why It’s Risky and How to Fix It

By Carol Williams / July 28, 2021 /

“A chain is only as strong as its weakest link.” We’ve all heard this idiom that first appeared in Thomas Reid’s “Essays on the Intellectual Powers of Man” published in 1786. The phrase is commonly used to describe organizations or groups and how they are only as strong as the weakest or laziest member. By…

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risk response

5 Risk Response Strategies You Will Have to Consider After Assessing Risks

By Carol Williams / June 28, 2021 /

We can’t control what people say to us – we can only control our response. Risk and uncertainty are much the same I suppose… The original version of the following article has been one of the most popular here at my blog.. Like other popular posts, such as this comparison of traditional risk management and…

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Prove your Value to the CEO: Focus More on Big Picture Issues, Less on Process

By Carol Williams / June 17, 2021 /

Too often, we get so consumed with the day-to-day that we forget to take a step back to look at the bigger picture. In our personal lives, this could take the form of being too hurried going from one thing to the next that we don’t stop for a moment and take time to just…

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5 Ways to Improve ERM’s Reputation with Executives

By Carol Williams / June 10, 2021 /

The COVID pandemic of the last year blew the lid of uncertainty wide open… And while restrictions are easing and many are returning to the office, this uncertainty shows no signs of abating. In fact, it will continue to intensify. Now this may seem like an incredible opportunity for ERM to help the Board, executives…

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10 Attributes that Made ERM Successful at the LEGO Group

By Carol Williams / May 19, 2021 /

LEGO is a timeless, classic toy line popular among kids and the young-at-heart, including here in our home. Building LEGO sets either as a themed set (e.g., Star Wars, fire station, airport) or creative imagination is something my son and I have enjoyed doing together for several years now. Just recently, he expressed his desire…

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Retooling: Applying Problem Definition Process to Risk & Opportunity Management

By Carol Williams / May 12, 2021 /

In the manufacturing world, retooling machinery for a different purpose is a common practice. Once a machine becomes worn out, obsolete, or the product is no longer in demand, engineers can modify the equipment for another purpose and thus save the company tens of thousands, even millions of dollars. The best example of this on…

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Risk Appetite and Risk Tolerance – Which Definitions Do You Use?

By Carol Williams / May 5, 2021 /

In follow up to our recent article on handling risks that exceed the company’s appetite, we would like to share this perspective from our friend Hans Læssøe on this complex and controversial topic. Hans’ article below describes how the world’s leading risk management standards, COSO and ISO 31000, have differing definitions on risk appetite and…

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