An organisation’s culture is defined by the sum of its behaviours. Trade-offs are often made – for example, what takes priority: profit or customer? Making the right decision at key moments is fundamental to your business.
Culture and behaviour risk is all over the news; it affects multiple industries and sectors and the consequences can be severe. Often, boards fail to identify root causes or take tangible action to address systemic behavioural issues.
Leaders need to integrate enterprise risk management with strategy, improve their risk profile, embed good corporate governance, implement stress testing and embed continuous monitoring instead of focusing on cutting costs and aggressively streamlining operations.
Many leaders lack visibility of their business transformation programmes. Sponsors often feel removed from the detail of a change management programme and need help to feel closer, increasing their confidence and certainty of achieving the desired outcome
Building digital trust: You need to be aware of your cyber security risks, be able to assess which cyber threats and possible cyber attacks could actually affect your business goals and have the agility to deal with new information security threats as they arise.
Aligning your culture, behaviours and beliefs is the key to success. If there is a mismatch between the intended, espoused and actual behaviours, the consequences for your organisation can be serious.
Your regulatory response reflects the level of control you have in your business. Regulatory compliance can be turned from a requirement to a source of commercial advantage.
Promises are made between people, not organisations or contracts. Risk assessing contractual obligations, understanding sub-contractor risk and improving governance maturity will help to increase levels of third party trust.