StrategyDriven Risk Management Forum

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StrategyDriven Risk Management ArticleAll organizations face a host of risks incurred during the conduct of day-to-day business operations and stakeholder interactions. These risks challenge executives and managers in so far as they can have consequentially negative impacts on the organization’s ongoing sustainability from an operational, financial, reputational, and regulatory perspective.

Risk = Probability of an adverse event’s occurrence times the severity of the event’s impact should it occur

Organization leaders seek to manager their risks’ likelihood and/or impact; identifying, assessing, and prioritizing followed by monitoring, mitigating (accepting, avoiding, minimizing, or transferring), and controlling each risk. Effective risk management optimizes the cost of risk monitoring and mitigation with the expense incurred should the event occur.

Focus of the Risk Management Forum

Materials within the risk management forum focus on those principles, best practices, and warning flags associated with the effective monitoring, mitigation, and response to both identified and unidentified – Black Swan – risks.

For detailed insight on making and managing high-risk decisions, visit StrategyDriven‘s Decision-Making Forum.

StrategyDriven Point of View DocumentArticles
Principles

Best Practices

Warning Flags

Resources
Whitepapers

Books

StrategyDriven Risk Assurance Map Development AcceleratorCorporate Risk Analysis, Management, and Mitigation

We help reduce corporate risk exposure through an independent assessment of your enterprise risk programs. We can help you develop a risk profile, benchmark your risks against industry peers, identify risk management program gaps, and develop and implement a multi-year oversight program to manage your risks consistent with industry guidelines. Learn more about how we can support your implementation and upgrade efforts or contact us for a personal consultation.

StrategyDriven Risk Management Forum

/in /by

StrategyDriven Risk Management ArticleAll organizations face a host of risks incurred during the conduct of day-to-day business operations and stakeholder interactions. These risks challenge executives and managers in so far as they can have consequentially negative impacts on the organization’s ongoing sustainability from an operational, financial, reputational, and regulatory perspective.

Risk = Probability of an adverse event’s occurrence times the severity of the event’s impact should it occur

Organization leaders seek to manager their risks’ likelihood and/or impact; identifying, assessing, and prioritizing followed by monitoring, mitigating (accepting, avoiding, minimizing, or transferring), and controlling each risk. Effective risk management optimizes the cost of risk monitoring and mitigation with the expense incurred should the event occur.

Focus of the Risk Management Forum

Materials within the risk management forum focus on those principles, best practices, and warning flags associated with the effective monitoring, mitigation, and response to both identified and unidentified – Black Swan – risks.

For detailed insight on making and managing high-risk decisions, visit StrategyDriven‘s Decision-Making Forum.

StrategyDriven Point of View DocumentArticles
Principles

Best Practices

Warning Flags

Resources
Whitepapers

Books

StrategyDriven Risk Assurance Map Development AcceleratorCorporate Risk Analysis, Management, and Mitigation

We help reduce corporate risk exposure through an independent assessment of your enterprise risk programs. We can help you develop a risk profile, benchmark your risks against industry peers, identify risk management program gaps, and develop and implement a multi-year oversight program to manage your risks consistent with industry guidelines. Learn more about how we can support your implementation and upgrade efforts or contact us for a personal consultation.

Risk Management Best Practice 4 – Risk Quantification

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StrategyDriven Risk Management Best Practice ArticleEach organization faces a unique set of risks challenging the continuity of its operations. All risks, however, are not equal. In order for an organization’s leaders to economically manage their business’s risks, they must first understand each risk’s inherent and residual value. Failure to quantify the organization’s risks produces a less meaningful set of potentially adverse events; lacking relevance, priority, and return on investment information and often resulting in the application of either too many or too few resources applied to address these challenges.

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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.

The evolution of SOCIAL MEDIA ATTRACTION that leads to a sale.

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I am on it.
I am into it.
It’s attracting customers.
It’s making sales.
It’s free!

What is it?
It’s almost social media.
It’s BUSINESS social media.

It’s your ticket to customer and prospect awareness – who you are, how you think, how you serve, what you believe, what your value messages are, and what others think of you. And did I mention? It’s free.

But the mere fact you participate isn’t any assurance it’ll pay off. In fact, the opposite is the norm. Most companies, most business people, and most salespeople have no idea of how to actually ATTRACT customers, potential customers, new followers, and connections. Even fewer companies and salespeople understand that business social media must be combined with, in conjunction with, and in harmony with all other internet and face-to-face marketing outreaches.

The key word to understanding and implementing business social media actions that lead to attraction and connection success is VALUE.

Value in the messages you tweet, post, and share. Value to your customers and prospects so they pass your message on to THEIR connections.

SCENARIO: I tweet to my 65,000+ followers. They resonate with it, and those who believe it’s worthy or applicable to their followers RE-TWEET it, or FAVOR it for their followers to see. That allows me to pick up another 100+ followers a day.

SCENARIO: I post a thought, or a quote, or an idea on my LinkedIn home page. It’s broadcast to my 15,000+ LinkedIn connections. Many of them ‘share’ it with all of their connections. It allows me to pick up more than 100 connections a week.

SCENARIO: I upload a new video each week on YouTube. It’s posted on my ezine, on my blog, in my tweets, and on my Facebook page. Somewhere between 1,000 and 5,000 people will view it, like it, and not want to miss the next one – so they subscribe to my YouTube uploads.

Those are real world examples that represent a small part of my attraction process. They give you a solid idea it’s not about what I write, post, or do; it’s about the RESPONSE to what I write, post, or do.

It’s not about tweeting. It’s about being re-tweeted.

I REPEAT: All business social media must be combined with your traditional business and Internet outreach.

Here are the business, internet, AND business social media value-based messaging and marketing elements I use to transfer my messages and posts that attract and connect. Study them. Implement yours.

  • LinkedIn Jeffrey Gitomer – The number one business resource. I post my thought of the day or link of the day. RESPONSE: People like it and share it with their connections. That has lead to more than 15,000 connections.
  • Twitter @gitomer I tweet three or four times a day. I usually send out one link a day. RESPONSE: I am re-tweeted or favored more than 100 times a day, and I gain between 50 and 100 new followers a day.
  • Facebook business /jeffreygitomer – Like me, then read a bunch of the posts, then be inspired to comment or post. RESPONSE: All of my followers (likers) read it and all of the poster’s connections can see it too.
  • YouTube channel BuyGitomer – People watch a few of my 300+ videos, RESPONSE: subscribe
  • SalesBlog.com daily posts – Daily value-based posts sent to subscribers and available by search. All emails get you back to the blog. There are lots of offers on the landing page. RESPONSE: People become loyal followers, buy products, and tell others to subscribe.
  • Weekly e-zine SalesCaffeine.com – Ten years of weekly, real-world, value-based sales information. E-zine also has several offers to buy products and services. RESPONSE: People become loyal followers, buy products, and tell others to subscribe.
  • Bought The Little Red Book of Selling, or one of my other 11 books. RESPONSE: Loved it, bought more books, or bought a book for the whole team, or went online and found more about me.
  • Attended one of my public seminars. RESPONSE: Bought a ticket, had a blast, learned a ton, bought more books after the event and subscribed to my full suite of social media offerings.
  • Paid to hear one of my webinars. This came about as a result of our internal electronic marketing. RESPONSE: Person loves it, resonates with it, buys more, becomes loyal.
  • Spent some time on gitomer.com reading my free resources. Found me by searching. RESPONSE: Loved my free stuff, browsed my things for sale – and bought something.
  • Googled Jeffrey Gitomer to find out more about me. RESPONSE: Said WOW when 500,000+ entries appeared. Clicked around and bought something.
  • Googled “sales training” and found me on the first page. That’s a real lead. RESPONSE: Clicked. Called. Bought.

You cannot control how people search. You must be findable by company, person, product, topic, and keywords that will get your name to pop up.

It’s not one thing that creates attraction. It’s a strategic combination of a social, online, and face-to-face outreach MIX to attract interested buyers. It’s a confluence of value-based things that are available to customers and prospects.

I just shared 13 of mine so you could see the diversity of my offerings and the multiple opportunities that prospects have to find you, be attracted to you, connect with you, and buy from you.

ULTIMATE RESPONSE: Someone calls and asks if I’m available to address their sales team at their annual meeting. When they do, we ask how they found out about me, and the customer replies, “He’s everywhere!”

Reprinted with permission from Jeffrey H. Gitomer and Buy Gitomer.

About the Author

Jeffrey Gitomer is the author of The Sales Bible, Customer Satisfaction is Worthless Customer Loyalty is Priceless, The Little Red Book of Selling, The Little Red Book of Sales Answers, The Little Black Book of Connections, The Little Gold Book of YES! Attitude, The Little Green Book of Getting Your Way, The Little Platinum Book of Cha-Ching, The Little Teal Book of Trust, The Little Book of Leadership, and Social BOOM! His website, www.gitomer.com, will lead you to more information about training and seminars, or email him personally at [email protected].