{"id":3472,"date":"2013-07-24T09:08:12","date_gmt":"2013-07-24T08:08:12","guid":{"rendered":"http:\/\/www.chaordicsolutions.co.uk\/blog\/?p=3472"},"modified":"2013-07-24T09:08:12","modified_gmt":"2013-07-24T08:08:12","slug":"research-confirms-value-of-creating-risk-aware-and-open-communication-culture","status":"publish","type":"post","link":"https:\/\/www.chaordicsolutions.co.uk\/blog\/from-our-change-management-consultants\/research-confirms-value-of-creating-risk-aware-and-open-communication-culture\/","title":{"rendered":"Research confirms value of creating risk-aware and open communication culture"},"content":{"rendered":"

\"businesscontinuitymini\"<\/a>Research confirms value of creating risk-aware and open communication culture: risk function just guides, educates.<\/p>\n

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Extract from airmic News:<\/strong><\/p>\n

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Research finds that resilient firms are those that eliminate internal barriers. Resilient companies do not depend solely on processes or compliance; they create an environment where everyone is risk-aware and barriers between senior managers and their staff are reduced to a minimum. That is one of the main findings of \u2018Roads to Resilience<\/a>\u2019, a report being produced by Cranfield Business School on behalf of Airmic.<\/em><\/p>\n

Researchers investigated eight firms that have either managed to ride crises successfully or have avoided them altogether. Just as Darwin discovered that the most adaptable, not necessarily the strongest species survive, \u2018Roads to Resilience<\/a>\u2019 found that the most durable firms are those that can respond rapidly and effectively to changing circumstances.<\/em><\/p>\n

In order to do so, businesses should create a culture where all staff are risk-aware and feel able to pass on their knowledge and views (even bad news!) to senior management. The role of the formal risk function is to guide and educate colleagues rather than to create a silo labelled \u2018risk management\u2019.<\/em><\/p>\n

\u2018Roads to Resilience<\/a>\u2019 follows the highly acclaimed \u2018Roads to Ruin\u2019, which investigated the factors behind corporate failure. Published in 2011, the first research identified \u2018risk glass ceilings\u2019 as a recurrent problem, where vital information known elsewhere in the organisation never reached senior management or the board.<\/em><\/p>\n

By contrast, \u2018Roads to Resilience<\/a>\u2019 finds that the glass ceiling is absent in successful companies, and staff communicate easily with those at the top, acting as their radar. To achieve this, senior managers need to engage with their staff, earning respect by listening and experiencing what it is like to work in the company.<\/em><\/p>\n

\u201cAt Jaguar Land Rover, senior executives spent half their time walking the shop floor, instead of sat in front of their computers in ivory tower offices. There has to be strong trust and people have to respect and be respectful of the people leading them,\u201d said Dr Stephen Carver of Cranfield Business School.<\/em><\/p>\n

To quote the chief operating officer of Virgin Atlantic: \u201cThe executives sit in open-plan offices, and we are not on the top floor \u2013 we just happen to be in one corner on the second floor. People know where we are, we immerse ourselves in the business, and they can come and talk to us.\u201d<\/em><\/p>\n

\u201cThe key message in this report is that culture enables resilience, and that culture comes from the top,\u201d said Airmic chief executive John Hurrell. \u201cBoard members need to lead the way, not by lecturing their people but through example and connecting with them, by being approachable and willing to listen.<\/em><\/p>\n

\u201cIt also represents a great opportunity for risk managers who, by virtue of their job, often have a broader knowledge of their companies than anyone else. They are ideally placed to facilitate the development of a corporate culture where everyone owns the risk management process.\u201d<\/em><\/p>\n

Airmic has published the main findings in an executive briefing<\/a> ahead of the full report, which is due to come out in September. It is based mainly on interviews with executives at eight companies: American International Group(AIG); Drax Power Station; InterContinental Hotels Group; Jaguar Land Rover; Olympic Delivery Authority; The Technology Partnership; Virgin Atlantic, and Zurich. <\/em><\/p>\n

The project is sponsored by Lockton, Crawford and PwC.<\/em><\/p>\n<\/div>\n

More …<\/strong> http:\/\/www.airmic.com\/news-story\/research-finds-resilient-firms-are-those-eliminate-internal-barriers?<\/a><\/p>\n

\u00a9 Airmic 2013<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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