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Sunday, May 3, 2009

How Risy is Your Comapny...Last Post

This is part of a long series in a number of postings based on the Spring 2009 Issue of OnPoint (from the Harvard Business Press) dedicated to Risk Management.

Specifically, this particular post is the last of several relating to my review of the article How Risky is Your Company (Robert Simons).

1. Risk Exposure Calculator: Simons offers a simple and powerful calculator to provide risk assessments for successful companies. The clue here is that success may breed success—but it also breeds over-reaching ambition, unbridled confidence and often unbelievable stupidity. So if your successful…read through his calculator that tracks three things: Pressures due to growth, culture and information management.

2. Levers of Control: Simons offers some tactics once you’ve discovered your exposed areas of risks. Those safeguards are 1) Belief Systems (communicating core values); 2) Boundary Systems (off-limit behaviors); 3) Diagnostic Control Systems (monitor critical performance); 4) Interactive Control Systems (stimulate learning).

My Advice: If you’re a successful company read this article immediately before you hit the skids!

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