Risk Management – Protocols for Responding to Unexpected, Catastrophic Black Swan Events

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StrategyDriven Risk Management ArticleBlack Swans events are rare (low probability), catastrophic (high impact) incidents that are seemingly unpredictable, go unrecognized, or are deemed so unlikely as to not reasonably warrant expensive preventive measures. There characteristics include:

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About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.

Risk Management – Principles for Responding to Unexpected, Catastrophic Black Swan Events

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StrategyDriven Risk Management ArticleBlack Swans events are rare (low probability), catastrophic (high impact) incidents that are seemingly unpredictable, go unrecognized, or are deemed so unlikely as to not reasonably warrant expensive preventive measures. There characteristics include:

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Don’t need a subscription? Buy access to Risk Management – Principles for Responding to Unexpected, Catastrophic Black Swan Events for just $2!

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About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.

Why have a Risk Management Program?

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Most people think of risk management as an insurance policy, the price paid to help prevent potentially negative outcomes from being realized by their company. Such a view leads to the conclusion that risk management is a business expense with a highly subjective value proposition.

We at StrategyDriven would suggest the insurance view of risk management is far too narrow. Instead, effective risk management enables a company to accelerate its business operations and to become more aggressive in the marketplace; approaches that in today’s fast paced environment is immeasurably valuable.

An analogy we use is that instead of correlating risk management to an insurance policy, leaders should think of it in terms of a high performance automotive breaking system. High performance breaks, such as those on racing cars, enable the driver to reach higher rates of speed while still maintaining the same level of safety as slower drivers whose cars have less capable breaking systems.

In the case of an effective risk management program, earlier warning of potentially adverse events occurs such that less costly adjustments can be made to avoid those risks; allowing the organization to speed its decisions and actions while maintaining the same risk profile as a company employing a less effective risk management program. Thus, an effective risk management system serves as both an insurance policy and a performance enhancer.

About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal, and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.

There is No Tradeoff With BYOD

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The bring-your-own-device (BYOD) movement has been portrayed as an impasse for organizations that must make tradeoffs between maintaining security and invading employee privacy.
This is an illusion — there is no tradeoff when you take the right approach to BYOD.

As a relatively young field spurred on by the mass adoption of smartphones and tablets, the BYOD space is in the process of reaching a common paradigm. In the meantime, organizations struggle to navigate a forest of mobile device management (MDM), enterprise mobility management (EMM) and other BYOD approaches that claim comparable benefits but don’t achieve them the same way.
Given the buzz and crowdedness of this field, some organizations simply don’t implement a BYOD solution, believing the medicine might be worse than the disease. This thinking is flawed and actually elevates the risk of data leaks, cybercrime and intellectual property theft.

A multi-persona approach to BYOD achieves the ideal balance of security and privacy, cost and flexibility, and choice for employees while overcoming the drawbacks of other BYOD approaches. With a multi-persona approach, there is no tradeoff.

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About the Author

Omer EifermanOmer Eiferman is Cellrox’s CEO. He is a graduate of Bar-Ilan University with a degree in Computer Science and Statistics, and was a pilot in the Israeli Air Force. Omer has served in a variety of marketing, development and product management roles in technology companies. To read Omer’s complete biography, click here.

Three Strategies to Synchronize, Backup and Protect Your Business Data

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Virtually every type of company generates valuable data that must be updated, retained and safeguarded, including ‘secret sauce’ information on company products, employee data and sensitive customer information. As a company leader, it’s your responsibility to create and implement a strategy to make sure your information is synced to enable collaboration, backed up to ensure retention and secured to make sure data doesn’t fall into the wrong hands.

If your company started out small, it may have seemed easy at first to manage your data. Maybe you saved it all on a server, and only a few employees had access to it, so you felt you could keep an eye on it easily. But as companies grow, they get more complex. And these days, more and more businesses store information on the cloud so they can scale their infrastructure as they expand and enable employees to access data on the road or from multiple locations.

Syncing data is critical if you want to make sure everyone has access to up-to-date information, which is especially important for companies that manage mobile workforces. Otherwise, you’ll end up with different versions of the sales data or data silos will develop on separate hard drives that result in only certain employees having access to information that everyone needs.

Synchronization needs to encompass all types of devices, including tablets and mobile phones, laptops, desktops, servers and external drives. The type of data sync approach your company should pursue depends on your unique business needs, your workforce and your technology assets. Broadly speaking, there are three different categories of data solutions to choose from; here’s a brief overview of each:

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About the Author

Bill Carey is Vice President of Marketing & Business Development at Siber Systems Inc., which offers the top-rated RoboForm Password Manager software.