When Strategy Execution Marries Risk Management: A Practical Guide to Manage Strategy-to-Execution Risk
By Patrick Ow
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About this ebook
Strategy execution and risk management are intrinsically intertwined for managing strategy-to-execution risk. This practical guide describes how risk management is an inseparable guidance and control system that will enable organisations to articulate and achieve their strategic objectives and execute their chosen corporate strategy within acceptable levels of risk.
When risk management 'marries' (or is joined to) strategy execution, both management practices are united into one seamless or integrated management activity. This oneness or integration with a common purpose of achieving strategic objectives is vital for organisations to successfully execute their corporate strategy, perform well beyond expectations, and continuously meet their profitability forecast and organisational growth.
"Strategies are approved but poorly communicated. This, in turn, makes the translation of strategy into specific actions and resource plans all but impossible. Lower levels don't know what they need to do, when they need to do it, or what resources will be required to deliver the performance senior management expects. Consequently, the expected results never materialise. And because no one is held responsible for the shortfall, the cycle of under-performance gets repeated, often for many years." (Mankins and Steele, 2005)
Patrick Ow
Patrick Ow CA Risk SpecialistRisk & Performance Management Specialist | Corporate & Personal Trainer & Coach at PracticalRiskTraining.com | Corporate Planning | Strategy Execution | Business Continuity | Workshop FacilitatorHelping organisations and individuals make better decisions to achieve better results.Professional profile• A Chartered Accountant with 25+ years of experience in governance, management, risk and performance.• Worked in public sector, not-for-profit and for-profit organisations with budgets of up to AUD25 billion and a workforce of up to 12,000 employees.• Adept in helping organisations and individuals make better decisions to achieve better outcomes and results.• Strengths in big-picture strategic thinking and strategy translation and execution.• Recognised for being practical, understanding of issues and knowing what to achieve.• Proven track record for encouraging open discussions in a friendly and trustworthy manner.• Managed a team of up to four professionals and influencing stakeholders for action.To learn more about how I help corporate executives and individuals, go to Practicalrisktraining.com or email patrick@practicalrisktraining.com.
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