登录查看更多内容

What do you do if your business administration decisions are putting your company at risk?

由人工智能和领英社区提供技术支持

Realizing that your business administration decisions may be jeopardizing the future of your company is a daunting revelation. It's crucial to approach this situation with a level head and a clear strategy. The decisions you make at the helm of your organization can have far-reaching consequences, and when those decisions start to threaten the very foundation of your business, it's time to take immediate action. This article will guide you through the necessary steps to identify risks, reassess your strategies, and steer your company back to safer waters, ensuring that you retain control over the health and direction of your business.

此文章中的业界达人

由社区从 6 条内容中精选。了解更多

Compliance Digest?

One-stop shop for navigating insurance & financial news & analysis | Storytelling using Data | No Global Gyan | Open…
Kondwani H S.

Investments Professional in Fixed Income Securities, Discounted Income, Listed Equity, Real Assets, Private Equity…
Bradley (Brad) Schmale

Proven ability to motivate and build high performance teams across international matrix environments.

1 Assess Risk

When you suspect that your decisions are putting your company at risk, the first step is to conduct a comprehensive risk assessment. Look at the areas where your choices have had negative impacts and analyze the potential short-term and long-term consequences. It's vital to be brutally honest with yourself about the severity of the situation. Consider seeking external advice or conducting a SWOT analysis—evaluating strengths, weaknesses, opportunities, and threats—to gain a clearer picture of where your business stands and what it faces.

添加您的观点

Compliance Digest?

One-stop shop for navigating insurance & financial news & analysis | Storytelling using Data | No Global Gyan | Open for collab
举报内容
Risk assessment is generally kept as the last activity in any organisational life cycle, since by nature we avoid risk and our obsession to optimistic about the future. Risk assessment must be the middle level activity in the business or business decisioning life cycle. Risk assessment is generally perceived as a SWOT analysis or a control matrix description one pagers, but we do not seek or see what we donot see. I.e. risk assessment are an outcome of what we have experienced not on what we have not experienced. Eg. WFH or a pandemic or economic melt down or a global natural catastrophy.

已翻译

赞
Kondwani H S.

Investments Professional in Fixed Income Securities, Discounted Income, Listed Equity, Real Assets, Private Equity, Commodities, Hedge Funds, Structured Investments and Other Alternative Investments.
举报内容
If business administration decisions are putting your company at risk: Assessment: Evaluate current decisions and their potential impact on the company's stability and growth. Seek Feedback: Consult with team members, stakeholders, or advisors for diverse perspectives. Risk Management: Implement robust risk management practices to identify, assess, and mitigate potential risks. Communication: Transparently communicate risks and changes to stakeholders to build trust and manage expectations. Strategic Planning: Develop a clear and well-defined strategic plan to guide future decisions and actions. Monitoring & Review: Continuously monitor the impact of decisions and be prepared to adapt strategies as needed.

已翻译

赞
Bradley (Brad) Schmale

Proven ability to motivate and build high performance teams across international matrix environments.
举报内容
STOP STOP STOP. Lift your head up and look at the forest around you… those f’ing individual trees will trip you up. Policy and Procedure is the 99% that Business Admin must address; 0.7% is for RCA and BA to project manage, with 0.3% being emerging issues for RCA and Exec strategizing.

已翻译

赞
Alfredo Passos

Ajudo sua Empresa a Crescer | Vender Mais | Vender Melhor | Assessoria Empresarial em Solu??es de Inteligência Competitiva Aplicada aos Negócios | Partner Atelier Brasil | Autor 15 Livros | Top Voice | LinkedIn Creator
举报内容
Riscos fazem parte de um negócio, mas é preciso antes da tomada de decis?o buscar fundamenta??o em análises de mercado, do consumo e do consumidor. Foi o tempo que a intui??o e a experiência profissional eram suficientes. Em tempos de rápidas mudan?as e muita incerteza, utilizar análises de cenários com diferentes perspectivas e diferentes períodos de tempo (6, 12, 18 meses), s?o fundamentais. Ainda observar as melhores práticas do setor e conversar com fornecedores, especialistas, clientes, possibilitam que o problema de outra empresa que encontrou uma solu??o, possam gerar insights, para a situa??o que se vive na empresa.

已翻译

赞

2 Seek Advice

In times of trouble, seeking advice from mentors, industry experts, or a professional consultant can provide new perspectives on the challenges you face. These individuals can offer unbiased opinions and may help you see blind spots in your decision-making process. Remember, there's no shame in asking for help; it's a sign of a strong leader who is committed to their company's success. Use these insights to inform your future decisions and to develop a more robust strategy for your business.

添加您的观点

Compliance Digest?

One-stop shop for navigating insurance & financial news & analysis | Storytelling using Data | No Global Gyan | Open for collab
举报内容
Advice from industry experts and industry peers can help introspect and rethink decision which are commonly thought as correct or sound. Advisory at times can be biased, but the individual must equip with logical reasoning to differentiate and pick & choose the right ingredients.

已翻译

赞

3 Adjust Strategy

Once you've identified the risks and sought advice, it's time to adjust your strategy accordingly. This might involve making tough decisions like cutting costs, restructuring your organization, or pivoting your business model. The key is to be flexible and willing to make the necessary changes to mitigate risks. Ensure that any new strategies align with your core business goals and values, and communicate these changes clearly to your team to maintain morale and focus.

添加您的观点

4 Implement Controls

To prevent future risks, implement internal controls within your business operations. These controls can be financial, such as setting budget limits, or procedural, such as establishing checks and balances in decision-making processes. Effective controls can help detect and prevent errors or fraud, ensuring that your business remains on a stable path. Regularly review these controls to ensure they are working as intended and make adjustments as needed.

添加您的观点

5 Monitor Progress

After adjusting your strategy and implementing new controls, it's essential to monitor the progress closely. Set up key performance indicators (KPIs) that will help you track whether the changes you've made are leading to positive outcomes. Regular monitoring will alert you early if things are not going as planned, allowing you to take corrective action swiftly. This proactive approach can save your company from further risk and set it up for long-term success.

添加您的观点

6 Learn and Adapt

Finally, use this experience as a learning opportunity. Reflect on what went wrong and why, and use these insights to improve your decision-making process. Business administration is not about making perfect decisions every time; it's about learning from mistakes and continuously adapting. Cultivate a culture within your company that encourages innovation and resilience, so that when faced with future challenges, your team is prepared to navigate them successfully.

添加您的观点

Compliance Digest?

One-stop shop for navigating insurance & financial news & analysis | Storytelling using Data | No Global Gyan | Open for collab
举报内容
In today's dynamic world, no approach is a set or standard trajectory, either it is mix of all, or a strategies must be altered based on people and conditions. Learning from past errors & adoption of the mitigating coverups are necessary for an organisation to thrive and survive the competition.

已翻译

赞

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Business Administration

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

What do you do if your business administration decisions are putting your company at risk?

1

2

3

4

5

6

7

1 Assess Risk

2 Seek Advice

3 Adjust Strategy

4 Implement Controls

5 Monitor Progress

6 Learn and Adapt

7 Here’s what else to consider

Business Administration

给文章评分

感谢您的反馈

更多Business Administration相关文章

更多相关阅读内容

What do you do if your business administration decisions are putting your company at risk?

1

2

3

4

5

6

7

1 Assess Risk

2 Seek Advice

3 Adjust Strategy

4 Implement Controls

5 Monitor Progress

6 Learn and Adapt

7 Here’s what else to consider

Business Administration

给文章评分

感谢您的反馈

查看其他技能