Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
Entrepreneurship, innovation, talent and cash flow are not enough for your commercial success. As a founder, business owner, investor or advisor, you need to develop and implement ‘business exit intelligence™’ for your ‘smarter business exits.’ By keeping an eventual exit in mind, you can develop your own ‘design thinking’ to give unique context and insight…
Can we achieve operational excellence (minimize costs, maximize profits, continuously improve productivity and quality), at the same time do it ethically and legally? Should we? At the end of the year, I am retiring officially but intend to continue volunteer work like writing, helping young professionals, speaking at business events, and part-time consulting. As leader…
Earlier this year I shared a tale of woe. One of my long-term clients had suffered a ransomware attack due mostly to the negligence of the business leadership to be respectful of the need to maintain their information technology infrastructure and be vigilant against external threats from bad actors (along with internal threats from system…
I recently came off a project with a metal fabrication company that was in severe distress. I was originally introduced to the company in October of 2020 by a mentor of the owner who thought they could use my help. At the time, the owner believed he had the situation under control; he did not. …
ByHBR.org
As a business leader, you have had to deal with numerous challenges in recent years: the Covid-19 pandemic, criminal cyberattacks, extreme weather events, geopolitical tensions, and more. Now you can add inflation woes to your list of potential challenges. Shifting Central Bank Priorities In the 2010s, inflation in major economies was largely at historically low…
ByHBR.org
Summary. Summary: These are unprecedented times in the world of cybersecurity, with ransomware attacks up 150% in 2020 and growing even faster in 2021. Most audit committees and senior management who have to make decisions around cyberattack say they never imagined they’d be in a discussion on whether and how much ransom to pay to…
