A car with a faulty part cannot go fast and far. However, some parts are more critical than others. An engine to a car is essential for it to move. If your car engine breaks down, it risks the life of the driver and all passengers. Great drivers keep looking at the car dashboard, continuously for any alerts or red flags for a safe and uninterrupted journey. An enterprise resource planning (ERP) system for any business is like an engine to a car. If you are using an inappropriate ERP, your business risks stagnating due to high costs from system…

Many leaders spend a lot of time convincing themselves that they do not need help. Most technical people are fond of giving rosy reports about how great things are going. Yet, at the end of the year, when independent reports are in, statistics show that an average company loses about 5% of their annual revenue to fraud, of which cybercrime contributes over 4%! Statements like “No one broke in.” “Our systems are very secure.” “We cannot be hacked.” “We lose 0% of our annual revenue to fraud and cybersecurity annually.” Are some of the common lies many leaders hear. However,…

Whatever happens, take responsibility! No one likes people who run from responsibility. Average leaders place blame. Exceptional leaders take it. And here is the thing. They take it because they are in charge of the environment. It is easier to give excuses or find a scapegoat. It takes a strong mind to acknowledge the shortcomings and promise to make it right next time. Few leaders have that backbone. Be one of them and you will win. That is what I call the right mental focus. Mustapha B Mugisa, Mr. Strategy.

“The way we communicate with others and with ourselves ultimately determines the quality of our lives.” Frank communication is the single most tool to make you win. Tell others what you expect of them, and ask them to tell you what they expect of you. Relationships are built on trust but sustained on communication. It only hurts you to be annoyed but not letting the other person know about it, and why. You cannot fail to build great relationships and live happily with people and win. Mustapha B Mugisa, Mr. Strategy

How much does poor risk management practices cost your organisation? How much time do you spend focusing on enterprise risk management initiatives? In response to customer requests, we have introduced a new service – outsourced ERM support. There are two options for our intervention. Option 1: Collaborative support We work with your existing internal risk departments to strengthen their capabilities with skills, tools, and other technical support to transform your risk agenda. We work with your team to conduct risk maturity assessment, including fraud risk assessment and cybersecurity assessment. We issue you a risk maturity assessment report – showing your…

If risk management is to ever take centre stage in any boardroom, now is the time! Amid the coronavirus, pandemic risk management is critical to keep organisations afloat. Unfortunately, studies show that lots of SMEs aren’t approaching risk management in the right way. They don’t spend enough time thinking about the approaches to use to protect their organisations against risks, both now and in the future. What should be done? After identifying risks, and assessing their impact and likelihood, there are four ways to managing them. In risk management theory, they are called the 4 Ts. Treat Transfer Terminate and,…