Steve Downton, Downton Service Management Consultants Ltd, Noventum Group
What do we mean by e-business Strategic Risk management, how would we define it? It is the identification and management of the risk exposure associated with a significant change in strategy, rapidly executed to accommodate the fast moving, ever changing e-business environment, to service customers better and sustain a lead on competitors. The intent is to take account of these Strategic Risks during the implementation programme.
Doing things in a hurry has always been considered risky. But we now live in the world of e-business, where we are continually told that the need for speed is critical to our very survival. Businesses talk of an e-Year, which is three months in “old currency”. We are told that if we want to Win Big we have to Bet Big. How do we know we are making the right decisions in the longer term as well as the immediate term? The luxury of strategies worked out over months and lasting for years, has gone. Any emerging Strategy that will take longer than 12 months to start showing results will be shelved as a dream; Strategies need to be prepared in weeks to last for quarters and must accommodate continual refinement. This speed brings with it a new form of risk exposure- Strategic Risk.
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