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,…
One page strategic plan
Simplicity is gold. Anyone can make any subject complicated. The real winners are folks who simplify things. Look at how Apple made music subscription and streaming so simple. You enjoy any music and your subscription is hustles. You have the option to subscribe per year, and it can auto-renew if you are someone who focuses on personal happiness and great experience instead of minding small things. People want simplified things. There are so many problems that have the potential to generate money. The challenge is few people can solve the problems simply with a monetization strategy. After interacting with several…
What is your aspiration or vision?
“Freewheeling opportunism” is used to refer to people who lack definitiveness of purpose and direction for their lives or career. When you lack a vision or life’s purpose, you are said to be someone who does not focus as you keep hopping from one thing to another. You move with easy things that may come along. Whatever you see as an opportunity, you grab it, even if it may not be in your line of business or interests! You are said to be someone who easily moves with the winds. When you lack a direction, anywhere the winds take you…
Protected: Why a culture audit at your organisation NOW?
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What is your organisational culture type?
A lot of work has been done in the field of organisational development and change management. One of the major causes of strategy risks is poor execution culture, where people play as individuals instead of a team. Indeed, many companies invest in recruiting the best talent, but experience high staff turnover, due to stress, burnout, unrealistic targets, and a plethora of reasons that make the staff disengage. Like a soul or good heart to the human being, culture is the soul that makes the organisation run swiftly. It is the software of the organisation that creates synergy. No change management…
The tricky nature of corruption risk management in Africa, part 1
Despite the establishment of several anti-corruption agencies, corruption and fraud risk remain top value destroyers in Africa, and the world at large. The negative impact of corruption risk on economies is well documented. Abuse of the position of trust through influence peddling or other underhand methods has a pervasive impact on the people and the economy at large, including: Denial of justice by corrupt court officials leads to unfair resource allocation and injustice to the innocent. Early in my career, around 2005, I applied and obtained a bank loan to buy land. I bought an acre of land on a…
