Enterprise Resource Management (ERM) is at the center of continuous improvement for technology organizations. The business can only grow if the capability is there to execute strategies. ERM requires a clear vision of the organization’s mission, its vision, and its’ maturity.
3. Regulatory/legislative changes
ERM can’t get away from the basics. So there still needs to be SWOT (Strengths, Weaknesses, Opportunities, and Threats) to understand the overall risk preparedness the organization wishes to address.
There are many types of assessment, so it is worth mentioning that the assessment should be geared to understanding some type of an objective. These assessments can be more specialized and focused on a key area. For example, if you wanted to assess information security (cyber or information assurance) you would need to take a more holistic approach. These assessments would be more focused on a particular section of security and then rolled up to a risk assessment and risk report.
Legislative/Regulatory and Business Interruption
The remaining two risks go hand and hand in a sense. Legislative and regulatory concerns heavily impact your capability to minimize business interruption. Of which, they should be at the forefront of how you do business. There is no getting around these two, so the key is to embrace them, and ingrain them into your business.
Key leadership will drive strategy through innovation in operations management, as well as through team work, ideas, and past success factors.
Bringing these things together effectively is a problem in itself, but that is why their seen as top risks.
While it may be easy to identify the risks, it is not easy to manage them in a coherent manner. This is one area that Treuvizion can increase your success. Send an email to firstname.lastname@example.org for a free risk brief and discussion.