Once we’ve got the risk risk identified, a key question for leadership and the board is do we have the right talent to manage this risk?
Collin’s “Good to Great” highlighted the importance of getting the right people. The same thing applies in managing risks. I’ve seen this show up in several companies and know of others who have closed this loop. A few example questions:
If your organization is facing massive disruption and digital changes and no one on the board or in leadership has a good understanding of this then the risk could be higher.
If your organization plans on opening new locations but hasn’t thought through the implications of not having the talent already in place and trained, then the likelihood of not meeting the objectives goes up.