Vision 2020 : Risk Management

Everyone nodded their heads to the idea of Managing Director who wanted to launch a new product within next six weeks. But when he sought views of everyone present at the meeting on worse case scenario of launching the new product in such a short stint, nobody responded fearing consequence of refuting the Managing Director's idea. Some one with a blank face suggested asking the audit committee directly about it. Hearing such a passive answer, the Managing Director moved on to the next agenda saying that he will ponder the idea one more time before it can be talked about at a greater length.

Two days later, the Managing Director received a call from a young colleague of his, who wanted to know more about the idea after knowing about it from the organizational grapevines. He also wanted to share a similar idea of his own with him.

The Managing Director responded to him that the idea needs to go through a reality check and he wants all those, who going to execute the project, to visualize and accept the worst case scenario. He had taken a back as he didn't intend to give the project in hands of those who didn't understand the risks involved. Ideas rigidly adopted can limit thinking and commitment. Focusing on incorrect end results increases chances of failure and encourages non-action. But by changing focus, one can influence performance. More you know about the end results and risks, better you are prepared. More you are prepared, more confident and assured you are. Outcome based thinking and result oriented actions are critical for effective risk management.

The Managing Director revealed that today he has been approached for first time after his announcing six month back, the policy of getting in touch with him directly for discussing any new ideas. He said that his vision is to create an organized decentralized firm which encourages participation. He wants to bring in young people with contagious passion and enthusiasm to inspire change and enter uncharted waters. He thanked the young guy for calling him and requested him to pay a visit next morning to discuss the prospects of his new idea and the new organization.