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Resource Management – Value of Effective Resource Management
All organizations are resource limited and it is this limitation that forces executives and managers to become effective at prioritizing the deployment of company assets or risk marketplace failure. This reality places effective resource management at the heart of what it means to be a StrategyDriven organization – the deployment of organizational resources for the optimal achievement of mission goals.
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Maintaining compliance with regulatory requirements, industry guidelines, and organizational commitments is the responsibility of every employee. Compliance typically occurs on a day-to-day basis through the performance of common policies, processes, and procedures. Subsequently, most organizations embed the actions necessary to achieve compliance within their instructional manuals. Ensuring these actions are both followed and remain in place over time is key to a successful compliance program.
No two individuals are exactly alike; therefore, each uniquely contributes to the organization. Subsequently, it is reasonable to expect that each individual’s efforts will result in a unique value contribution to the organization. In the accountable organization, this value is proportionately rewarded. Thus, no two individuals should expect to consistently receive the same reward outcomes.
Most think of risk management as an insurance policy, the price paid to help prevent potentially negative outcomes. Such a view leads to the conclusion that risk management is a business expense with a highly subjective value proposition. Risk management, however, offers companies a great deal of value and StrategyDriven would suggest the insurance view is far too narrow. Instead, effective risk management enables a business to accelerate its operations and market entry, to become more aggressive, an approach that in today’s fast paced marketplace environment is immeasurably valuable.
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