The Strategy Director of £6 billion turnover UK-based retail organisation.
- To integrate risk management into the organisation as part of achieving their overall goal of a Managed Risk Culture.
- They had perceived risk as being primarily an insurance issue. Business decisions were being taken daily without regard to the risks present or being assumed. For example, multi-million pound commercial bids were submitted without any formal risk analysis.
- To acquire knowledge of risk management techniques, business processes and the ability to match these with the most appropriate solution.
Solutions We Provided:
- We provided a customised solution for integration within their business planning process.
- Threats to business objectives and causes of potential failure to capitalise on business opportunities were identified, analysed and prioritised.
- Action plans were implemented for the most severe risks. Lower priority issues are addressed as part of the business planning process.
- Risk awareness increased amongst the 600 managers who participated in the process.
- Accountabilities for managing risk have been assigned at all levels.
- Capital projects and commercial bids are now subjected to various risk analysis interventions according to value/exposure.
- Management of risk is now considered as part of the business planning process.