Mitigating Risk in Challenging Environments

"A sound plan keeps everyone focused on the main objectives and provides the framework for achieving these objectives in the midst of a crisis."
"Keeping the planning process active means that the plan won’t atrophy."

Risk comes in so many different flavors that it makes Baskin Robbins’ ice cream flavors envious. There’s risk from competitors, insider threats, hostile foreign governments, natural disasters, supply chain vulnerabilities, reputational risk, and now a nasty virus. To me, the most significant risk is that which involves human life. For any leader of an organization that puts its people in harm’s way, there can be no greater factor in decision making. In the midst of a pandemic, most leaders now find themselves in this situation to some extent. Go back to work? Stay at home? Keep the people safe and lose the business? Risk people’s health in an attempt to salvage the business? Try and find a sweet spot; if one exists at all?

Putting people in harm’s way is usually thought of in terms of war zones, but now the workplace itself can meet this definition. With this in mind, I offer the following thoughts on how to reduce and mitigate risk, based on my time as a Soldier commanding troops in combat and as the CEO of a private security company that protected US government people and property in active combat areas.

Read more at: https://chiefexecutive.net/mitigating-risk-in-challenging-environments-insights-from-a-battle-tested-veteran-and-corporate-ceo/

"Urgency can lead to a truncated search that ends in a less than ideal result."
"The centerpiece of positive leadership is integrity."