As we start to approach the tail end of this pandemic and see some glimmer of hope, it is apparent that the world we now inhabit is very much different from what was pre Covid 19.
We must now resign to the fact that this virus is here to stay and we must therefore learn to adapt and live with it if we are to survive and be successful.
The virus has indeed accelerated and brought forward technological changes in the way we work and do business.
Last night I was on a quantum technology discussion forum organised by Quantum London. Quantum computing will be a game changer for society as a whole and while it may be another 10 years or so away from being fully implemented, we are already seeing the impact of AI, Machine Learning and
Blockchain technology is having on our society and the businesses that support it.
So how do organisations ensure they reap the benefit of these new technological advancements? Failure to embrace them out of fear, ignorance or you decide to bury your head in the sand and hope these things are a passing fad could result in the death of your business as you find yourself outsmarted and outranked.
A major decision to bring in new technology or even change strategic direction so as to exploit a new market or embrace a new emerging trend will no doubt be fraught with uncertainty.
However, this uncertainty should not be such that it paralyses the organisation from moving forward. An effective risk management process that enables top management to identify and assess the potential threats and opportunities will allow decisions to be made with that much confidence.
Understanding your threats and opportunities and building these factors into your decision will increase the chances of success while maintaining your appetite for risk.
At Arischio Consulting, we help organisations better manage uncertainty and achieve success through the deployment of an effective risk governance structure, the identification of threats using a variety of risk tools, integrating risk analysis into key decision making processes, the training of all staff so they become more risk aware and accountable for their actions and backed by an organisation wide GRC system that is accessible to all concerned.
If you want to how we can help you please get in touch with us