Definitions

strategy, strategic risk, risk management, definitions, reference

Following are definitions of commonly used words related to Strategic Risk, used in my consulting and speaking & training services.

Strategic Risk Terms

80/20 Patients
Abuse
Ambivalence
Apathy
Bad News
Basement Strengths
Best Practice
Blind Spot
Bullying
Cause and Effect
Change Management
CLEAR Goals
Cognitive Bias
Cognitive Dissonance
Communication
Communication Intelligence
Company Culture
Corporate Ladder Bias
Critical Risk Event
Cyberbullying
Data Dictionary
Decision Making
Devil’s Advocate
Dictionary
Empathetic Leadership
Employee for a Day
Engagement
Everything to Everyone
Fear Response
Feedback Loop
Foundational Staff
Framework
Frankenstein Management Syndrome
Fraud
Harassment
Health
Healthy Feedback Loops
Hollowed-Out Engagement
Ideal Patient
Implementation
Innovation
Innovation Intelligence
Intimidation
INTP
Language
Lessons Learned
Loss
Lottery Mentality
Minimalist Management
Motivation
Move the Needle
Multiple Intelligences
Myers-Briggs Type Indicator (MBTI)
Needs, Fears, and Expectations
Niche
Offboarding
Onboarding
Operational Risk
Overconfidence
Pain Points
Participatory
Participatory Job Design
PESTEL analysis
Policy
Porter’s 5 Forces
Post-Mortem Evaluation
Prejudice
Pro Bono
Procedure
Process
Risk
Risk Alert Fatigue
Risk Analysis
Risk Appetite
Risk Forecasting
Risk Framework
Risk Index
Risk Intelligence
Risk Investigation
Risk Management
Risk Map
Risk Maturity
Risk Measurement
Risk Monitoring
Risk Preparedness
Risk Roles
Risk Taking
Roadblock
Root Cause
Scrooge Effect
SMART Goals
Stagnation
Stakeholder
Strategic Bias
Strategic Objectives
Strategic Plan
Strategic Risk
Strategic Risk Analysis
Strategic Risk Intelligence
Strategic Risk Management
StrengthsFinder
Super SWOT
Surprise
SWOT Analysis
Transaction
Transaction Avoidance Syndrome
Underconfidence
Unknown
VMVOM
Vulnerability
Waste
Whistleblower
Workflow
Yes-Person
Yin and Yang

80/20 Patients

A concept based on the Pareto principle that 80% of outcomes are result from 20% of all causes. In any given practice, there are only a few patients who are difficult to work with, skip appointments, and demand your attention. These individuals take up 80% of a practitioner’s time while only providing 20% (or less) of the revenue.

Abuse

One of the 4 organizational management vulnerabilities. Actions that are inappropriate, are known to cause harm, and result in a diminished sense of safety, dignity, or value.

Examples: Emotional or mental bullying by a manager, Pressure to participate in questionable or unethical practices, Being prevented from completing necessary work tasks.

See Bullying, Intimidation, Waste, Loss, and Fraud

Ambivalence

Simultaneous yet contradictory feelings about an idea. For example: attraction and repulsion, respect and embarrassment, love and hate, certainty and indecision. From the Latin: ambi- (“both sides”) and -valentia (“strength”).

Apathy

The absence or suppression of emotion, concern, or enthusiasm; state of indifference and disinterest to matters of concern.

Basement Strengths

Aspects of one’s natural talents that are misapplied and act as a barrier to effective communication, productivity, and goal achievement.

See StrengthsFinder

Bad News

Information that is considered unwelcome because it is:

  • unpleasant (creates suffering and pain),
  • annoying (causes irritation and anger), or
  • disturbing (causes turmoil and anxiety).

Best Practice

A proven method of producing superior outcomes with the highest efficiency (least amount of effort) and greatest effectiveness (optimal results). Grace LaConte has developed ten Best Practices for Strategic Risk Management. These include:

Awareness of Bias

  1. Participatory Strategic Planning
  2. Culture of Empathy
  3. Meaningful Vision, Mission, & Values

Risk Intelligence

  1. Risk Intelligent Leaders
  2. Implementable Strategic Plan
  3. Crystal-Clear Objectives and Measures

Risk Evaluation

  1. High-Value Experience
  2. Effective Transition Philosophy

Risk Monitoring

  1. Healthy Feedback Loops
  2. Continuous Risk Monitoring
strategic risk, risk management, best practices, strategic planning, risk intelligence
Grace LaConte’s 10 Best Practices of Strategic Risk Management

Blind Spot

An area of the visual field that cannot be seen, due to an obstruction.

  • In anatomy: A small area at the back of the eye where the optic nerve is insensitive to light.
  • In professional development: Aspects of our behavior, attitude, and beliefs of which we are not fully conscious but which may negatively affect others.
  • In management: Unawareness of vulnerabilities which may cause harm to the organizational, or opportunities which may be of great value.
blind spots, blind spot, leadership blind spots, central vision, peripheral vision, unviewable area
Grace LaConte’s “Leadership Blind Spots” Diagram

See Strategic Bias

Bullying

Systematic and intentional behavior that inflicts harm by dominating someone through force, threats, harassment, or intimidation in one or more of these ways:

  1. Physical: Bodily harm (battery), threat of harm (assault), unwanted touching, destruction of property, theft
  2. Verbal: Written, electronic, or spoken; name-calling, crude comments
  3. Non-Verbal: Graffiti, crude imagery, vulgar gestures, pornographic materials, sexual propositioning
  4. Emotional: Relational abuse, stalking
  5. Social: Exclusion, humiliation, gossip and rumors
  6. Cyber: Also known as “cyberbullying,” this category can include multiple types of bullying and is characterized by:
    • Text messages or emails
    • Rumors shared via email or posted on social networking sites
    • Embarrassing pictures, videos, websites, or fake profiles
  7. Prejudicial: Any type of behavior (Physical, Verbal, Social, or Cyber) that calls negative and unwanted attention to a person’s actual or perceived characteristics (full list here)

See Intimidation and Harassment

Cause and Effect

Recognition of connections between one event (the cause), with another (the effect), where each is dependent on one other and the originating event is known to be responsible for the outcome.

See Root Cause

Change Management

An organization’s approach to achieving outcomes by identifying and significantly reshaping the way it utilizes resources, processes, and budget.

CLEAR Goals

A method inspired by Adam Kreek via Inc. Magazine to identify one’s desired objective using 5 points:

  • Collaborative
  • Limited
  • Engaging
  • Actionable
  • Refinable

See SMART Goals

SMART goals, CLEAR goals, goal-setting
Grace LaConte’s take on SMART and CLEAR goals

Cognitive Bias

A systematic pattern of deviation from rational judgment that often leads to a distorted perception, illogical interpretation, and/or inaccurate conclusions.

Cognitive Dissonance

Mental stress that occurs when an individual is confronted with information that is inconsistent with or contradicts their beliefs, ideas, and values.

See Cognitive Bias

Communication

The process of delivering a message using words or behavior, and exchanging that message to someone else with shared understanding.

Communication Intelligence

One of the 3 types of Strategic Intelligence. The ability to acquire knowledge using words, sounds, signs, and behaviors; synthesize it into a message; and exchange the information to another with a high degree of success.

See Strategic Risk Intelligence

Company Culture

Defined expectations of behavior, words, symbols, habits, values, and beliefs that directly impact an organization’s work environment, vision & mission, ethical practices, objectives, and performance expectations.

Corporate Ladder Bias

A pattern of favoring unreasonable beliefs and behavior that primarily benefits top-level leaders, and avoiding rational information that may contradict or threaten those beliefs.

See Foundational Staff

Critical Risk Event

The existence of a vulnerability that is likely to cause serious damage to a particular outcome.

Cyberbullying

The use of electronic media to send hurtful messages to intimidate or threaten someone; usually done anonymously. Examples include:

  • Text messages or Emails
  • Rumors shared via email or posted on social networking sites
  • Embarrassing pictures, videos, or websites, or fake profiles.

See Bullying, Intimidation, and Harassment

Data Dictionary

A set of terms describing the content, format, and structure of a set of data; the relationships between each element; and rules by which access is controlled. Read more here.

Decision Making

The cognitive process of selecting a final course of action among alternate possibilities. A basic Decision-Making Matrix includes 4 parts:

  • High benefit with high confidence: High-Value (do it now)
  • High benefit with low confidence: Secondary (do it next)
  • Low benefit with high confidence: Insignificant (postpone it)
  • Low benefit with low confidence: Wasteful (eliminate it)
decision making, decisions, leadership, benefits, confidence, high-value outcomes, wasteful
Grace LaConte’s Decision Making Matrix

Devil’s Advocate

A person who argues in favor of views that are in opposition to those held by the establishment (whether or not he or she agrees with that position) in order to examine it further.

See Whistleblower and Yes-Person

Dictionary

An alphabetized set of terms that describes the spelling, pronunciation, and meanings of referenced words.

Empathetic Leadership

The ability of an authority figure to recognize and vicariously experience the pain of others (specifically by Foundational Staff) which can resulting in higher levels of trust, collaboration, and positive outcomes.

Employee For a Day

The simple practice of “sitting in the seat” of employees (especially Foundational Staff) to gain first-hand knowledge of organizational challenges from the employee’s point of view in a way that is not possible at a leadership level.

Engagement

The process of creating, nurturing, and managing relationships with stakeholders (customers/patients, investors, managers, employees, volunteers, and the community) by meeting their needs, fears, and expectations.

See Hollowed-Out Engagement and Stakeholder

Everything to Everyone

A belief that offering a wide array of options is better than limiting the choices to just a handful. This is evident in the Paradox of Choice, developed by psychologist Barry Schwartz, Ph.D. and can lead to the Fear of Missing Out (coined by Dan Herman). In contrast, voluntary simplicity involves reducing the options to a bare minimum in order to gain a sense of freedom.

See Minimalist Management

Fear Response

There are four basic ways humans react to fear:

  • Repel and engage the threat: Fight 
  • Repel and disengage the threat: Flight 
  • Attract and disengage the threat: Freeze 
  • Attract and engage the threat: Face (the most effective approach)
responses to fear, fight or flight, fight flight freeze, engage, disengage, repel, attract
The 4 Fear Responses: Fight, Flight, Freeze, and Face

According to Dr. Karl Albrecht, all humans share five types of fears:

  • Extinction (not having basic physiological needs like food, shelter, water, and the absence of pain)
  • Mutilation (feeling unsafe and being invaded)
  • Ego Death (losing the esteem and approval of others)
  • Separation (not belonging or being accepted in a social group)
  • Loss of Autonomy (being unable to experience self actualization and independent thought)
basic fears, types of fears, extinction, physiological, mutilation, safety, ego death, esteem, separation, belonging, loss of autonomy, self actualization
The 5 Basic Fears by Dr. Karl Albrecht

Feedback Loop

A control system in which leaders collect new input (suggestion, appreciation, or complaint), respond to the sender, validate and measure the input’s usefulness, decide which action to take, adjust processes, confirm outcomes, and alert the sender that action was taken.

Feedback Loops can have 4 outcomes:

  • High trust with high quality: Helpful feedback (immediately applicable ideas)
  • High trust with low quality: Distracted feedback (ideas don’t solve urgent problems)
  • Low trust with high quality: Constricted feedback (quality of ideas is limited)
  • Low trust with low quality: Damaging feedback (ideas conflict with strategic goals)
feedback, feedback loop, feedback mechanism, customer service, customer engagement, patient engagement
Grace LaConte’s Feedback Loop Threats

See Cause and Effect and Healthy Feedback Loops

Foundational Staff

Employees at the lowest levels of an organization including Housekeeping, Maintenance, Food Service, and Direct Patient/Customer Care. Essential roles without which other systems would not run effectively, yet which are also the least appreciated and often lowest paid.

foundational staff, organizational roles, organizational chart, housekeeping, direct care, food service, maintenance
Grace LaConte’s 4 Types of Foundational Staff

Framework

The structure of facts and principles necessary to form a decision, concept, or system.

Frankenstein Management Syndrome

A condition of artificial and harmful outcomes resulting from biased decision-making when leaders are disconnected from the needs of employees, customers, and the community.

Fraud

One of the 4 organizational management vulnerabilities. Intentional deception used to gain something of value, inflict injury, or gain some unfair advantage.

Examples: Submitting claims for services not provided, falsifying records, misrepresenting the frequency or dates of services.

See Waste, Loss, and Abuse

Harassment

Repetitive and unwanted behavior, gestures, or remarks that cause someone to feel offended and threatened based on their race, color, religion, sex, national origin, disability, genetic information, or pregnancy status. When offensive conduct in a workplace is pervasive and considered intimidating, hostile, or abusive, it is considered unlawful even if there is no economic impact on the employee (US Equal Employment Opportunity Commission).

See Bullying and Intimidation

Health

An optimal state that maximizes the potential for physical, mental, emotional, and spiritual growth.

See Healthy Feedback Loops

Healthy Feedback Loops

A series of systems that collect and respond to stakeholder input in order to optimize physical, mental, emotional, and spiritual growth.

The 5 components are:

  1. Empathetic Leaders. Effective change won’t happen unless the leadership team can experience the pain of those they lead (especially Foundational Staff).
  2. Non-Retaliatory Culture. Even if the feedback isn’t pleasant, intimidation is never a proper response.
  3. Structured Feedback Mechanism. How is the feedback being collected? Several methods should be used, and they should be monitored and tested regularly.
  4. Analytic Framework. Once people start sharing their thoughts and experiences, this data needs to be analyzed and evaluated.
  5. Visible Follow-Through. The most important step is to complete the loop by implementing a change, communicating the decision, and monitoring the new process.
feedback loop, healthy feedback, empathetic leaders, structured mechanisms
Grace LaConte’s Components of a Healthy Feedback Loop

See Stakeholder

Hollowed-Out Engagement

The erroneous belief that stakeholder relationships are healthy, but where in reality the organization fails to adequately meet stakeholders’ needs, fears, and expectations.

Ideal Patient

This is an individual who

Any patient who fits these criteria is a valuable asset. Your goal is to find, attract, and keep as many as possible, and gently say auf wiedersehen to everyone else.

Implementation

The process of transforming a concept into reality by using a specified set of activities to execute the plan.

Innovation

“Applied creativity” through the creation of new products, services, relationships, and approaches. (Source: Dr. Alan Weiss)

Innovation Intelligence

One of the 3 types of Strategic Intelligence. The ability to generate, identify, and apply creative solutions in a way that causes products, services, relationships, and approaches to improve.

See Innovation and Strategic Risk Intelligence

Intimidation

An act of frightening someone using threats, coercion, or harassment in order to compel or deter specific action. When repetitive, this is called bullying. From the Latin: timidus (“to make afraid”).

INTP

One of the four least-common Myers-Briggs personality types, the INTP (Introvert, iNtuition, Thinking, Perceiving) is estimated to occur in just 3% of the general population, and in only 1% of women (including Grace LaConte). Nicknamed “The Logician,” people with this personality are intellectual, logical, and flexible. They often ask “Does this make sense?” and are skilled at slicing through data to identify holes in logic. PersonalityHacker calls INTP the “intellectual Shiva,” after the Hindu god of destruction.

See Myers-Briggs Type Indicator

Language

A communication system that uses a set of words, sounds, symbols, or gestures to convey meaning.

Lessons Learned

A retrospective evaluation of an event to determine root causes and decision-making to avoid risk of future loss.

See Post-Mortem Evaluation

Loss

One of the 4 organizational management vulnerabilities. To be irreversibly deprived of the value of an asset or resource.

Examples: Business interruption, physical damage (from fire, lightening, flooding, etc), vandalism or cyberattacks, legal liability due to bodily injury, illness or accident of key staff.

See Waste, Fraud, and Abuse

Lottery Mentality

An overly optimistic view of the near future: “My life would change if I were to win the lottery! All of my bills will be paid, and all my problems would disappear… if just a few things went right.”

See Overconfidence

Minimalist Management

Popularized by the Minimalist and Tiny House movements, this philosophy supports decreasing one’s unneeded possessions, living life more simply, and experiencing each moment with more appreciation. Most managers are expected to do more with less. The pressure to magically create good outcomes with very little time or money can lead to depression and anxiety.

The 4 areas developed by Grace LaConte are:

  • Care for Self
  • Organize Surroundings
  • Prioritize Time
  • Help Others

A re-balance of management responsibilities can eliminate stress, increase productivity, enhance relationships, and improve health.

Motivation

Internal (psychological) and external (environmental) factors that affect one’s desire to act in a certain way. According to psychologist Dr. Fredrick Herzberg’s Motivation-Hygiene Theory (also known as the Two-Factor Theory), people are motivated by a combination of what makes them feel good about doing their job (satisfaction), and things that make them feel bad about doing their job (dissatisfaction).

Factors for Satisfaction Factors for Dissatisfaction
Feeling of achievement

Meaningful work

Challenging work

Increased responsibility

Recognition of accomplishments

Advancement

Opportunities for growth

Relationship with supervisor and peers

Working conditions

Quality of Supervision

Company policies

Salary and benefits

Status

Job security

In Dr. Herzberg’s theory,

  • The opposite of Satisfaction is No Satisfaction.
  • The opposite of Dissatisfaction is No Dissatisfaction.

See Engagement

Move the Needle

Measurable progress toward a specific goal, especially when the objectives are Quantitative (objective numbers) and Qualitative (subjective and objective experiences).

Progress toward these goals can be visually represented by an Empty/Full graphic (like a gas tank), a bar graph, or a pie graph.

Ideally, every job role has 2 or 3 “Move the Needle” measures that directly impact the organization’s ability to achieve its strategic goals.

Multiple Intelligences

A theory developed in 1983 by Dr. Howard Gardner, professor of education at Harvard University, which suggests that traditional intelligence testing (“IQ”) is limited and should include a variety of other modalities. These include:

  1. Musical-Rhythmic (“music smart”) — The ability to recognize and reproduce musical pitch, rhythm, timbre, and tone.
  2. Linguistic-Verbal (“word smart”) — The ability to use language to express ideas and to convey complex meaning.
  3. Intrapresonal (“self smart”) — The capacity to understand one’s own thoughts and feelings, and to direct one’s life toward specific goals.
  4. Existential (“big questions smart”) — The capacity to tackle deep questions about human existence: Who are we? How did we get here? What is the meaning of life?
  5. Logical-Maths (“number/reasoning smart”) — The ability to calculate and quantify data and to use abstract thought, sequential reasoning skills, and inductive & deductive thinking patterns.
  6. Interpersonal (“people smart”) — The capacity to convey thoughts effectively with verbal and nonverbal communication, recognize moods and temperaments of others, and consider multiple perspectives.
  7. Naturalistic (“nature smart”) — The ability to distinguish features in the natural world and to appreciate living things
  8. Visual-Spatial (“picture smart”) — The ability to mentally manipulate objects in multiple dimensions using spatial reasoning, artistic skills, and an active imagination.
  9. Bodily-Kinesthetic (“body smart”) — The ability to manipulate objects and one’s physical movements to their fullest potential due to a keen sense of timing and an exceptional union of mind & body.

Source: Dr. Thomas Armstrong of American Institute for Learning and Human Development

howard gardner, multiple intelligences, musical-rhythmic, linguistic-verbal, intrapresonal, existential, logical-maths, interpersonal, naturalistic, visual-spatial, bodily-kinesthetic
Dr. Howard Gardner’s 9 Multiple Intelligences

Myers-Briggs Type Indicator® (MBTI)

A personality self-assessment created by Katharine Cook Briggs and her daughter Isabel Briggs Myers. based on the work of Swiss psychiatrist Carl Jung.

This tool provides insights into your decision-making behavior by evaluating traits using an either/or result. The 8 traits are:

  • Introvert or Extrovert
  • iNtuition or Sensing
  • Thinking or Feeling
  • Judging or Perceiving

The official assessment is available at MBTIonline; or you can take the free version at 16Personalities.

See StrengthsFinder

Needs, Fears, and Expectations

Three segments of engagement based on Dr. Abraham Maslow’s hierarchy of five human needs (Physiological, Safety, Esteem, Belonging, and Self-Actualization) paralleled with Dr. Karl Albrecht’s five fears we all share (Extinction, Mutilation, Ego Death, Separation, and Loss of Autonomy), and The Lustgarten Foundation’s Patient Bill of Rights (Access, Choice, Respect, Participation, and Confidentiality).

Maslow's Hierarchy of Needs, Fears, Expectations, Physiological, Safety, Esteem, Belonging, Self-Actualization
Part 1 of Grace LaConte’s Hierarchy of Needs, Fears, and Expectations
Maslow's Hierarchy, Needs, Fears, Engagement
Part 2 of Grace LaConte’s Hierarchy of Engagement Needs, Fears, and Social Needs

See Fear Response

Niche

A distinct segment of the market; a business specialization that does the following:

  1. serves very specific, unmet needs of a customer market
  2. provides well-defined solutions (services or products) that meet customers’ needs
  3. is targeted to the environment where customers are most comfortable
  4. makes you (the business owner) feel excited and satisfied

“Niche” is a derivative of the Latin word nīdus (meaning “nest”).

Offboarding

The standardized process of transitioning an employee or customer out of the organization using

  • Open communication (leaders convey a sense of trust and a desire to hear “bad news”)
  • Peaceful transfer of knowledge and assets (seamless handoffs; retrieve all property and access mechanisms; reduce threats of waste, loss, fraud, or abuse of power)
  • Updated organizational access (remove from directories, close all security gaps, remove logins)

            See Onboarding and Participatory Job Design

Onboarding

The standardized welcoming and orientation process that

  • integrates new employees into the organization’s culture, policies & procedures, and objectives; and
  • familiarizes new customers with the organization’s services or products, core philosophy, methodology, and what to expect in every stage of the buying cycle.

During onboarding, new employees or customers can expect to:

  1. acquire the necessary knowledge and skills (training),
  2. align with expected behaviors (culture), and
  3. ascertain the value expected for the organization to meet its goals or the customer’s goals (objectives).

            See Offboarding and Participatory Job Design

Operational Risk

The probability of uncertainty in an organization’s internal and external operations that make it vulnerable to loss.

Overconfidence

Unjustifiable assurance that one’s beliefs and actions are completely correct.

See Cognitive Bias

Pain Points

The most critical fear, need, or desire of a consumer. In healthcare, a patient’s biggest “pain points” are

  • I’m uncomfortable (fear of extinction)
  • I feel unsafe (fear of mutilation)
  • I don’t belong (fear of separation)
  • I’m not heard (fear of ego death)
  • I’m not myself (fear of loss of autonomy)

See Fear Response

Participatory

Showing respect and dignity to all stakeholders, and providing them with the opportunity to be actively involved in generating ideas, designing processes, and ensuring a result that meets their needs.

Participatory Job Design

A philosophy of respect and appreciation toward every employee by including them in the development, evaluation, and strategic planning of their role in the organization.

Policy

A statement of intention that describes what needs to be done (responsibilities), by whom (roles), and the problems it will solve (objectives). Answers the question “Why?” by identifying goals and mission, and “What?” by determining which programs and services to use. Every Policy should flow directly from each of the company’s Strategic Objectives.

See Procedure

PESTEL analysis

A strategic planning method acronym that stands for “Political, Economic, Social, Technological, Environmental and Legal.” By evaluating each of these areas in detail, an organization can avoid potential hidden vulnerabilities.

In the natural health field, these include:

  • Political
    • policy changes, shifts in public sentiment, need for advocacy
  • Economic
    • shift in market share, import and export of medicine and supplements, buying power
  • Social
    • popular new industry trends and treatment methods, new scientific discoveries, news articles and TV appearances
  • Technological
    • new software that integrates with your other systems, services that take work off your plate, new social media platforms
  • Environmental
    • seasonal purchasing shifts, awards and recognition, internal processes efficiency, safe conditions, staff engagement and turnover, and physical environment changes (like Flint MI’s contaminated water and Portland OR’s elevated lead, arsenic, and cadmium levels in soil)
  • Legal
    • new laws that present a unique way to add value to patients; changes in regulations and legislation; potential legal pitfalls to help patients avoid

Porter’s 5 Forces

A tool that analyzes a company’s profitability in terms of its competitive intensity.
These include 3 forces from “horizontal” competition:

  • Threat of New Entrants
  • Threat of Substitutes
  • Competitive Rivalry

And 2 threats from “vertical” competition:

  • Bargaining Power of Suppliers
  • Bargaining Power of Buyers (Patients/Customers)

Post-Mortem Evaluation

Also known as Lessons Learned, this retrospective review of an event is used to determine root causes by examining:

  1. what happened
  2. what went well
  3. what didn’t go well, and
  4. how we can adjust for the future

The resulting insights are used to Avoid (eliminate), Reduce (mitigate), Retain (accept), and/or Transfer (insure) risk.

Prejudice

An unfavorable, preconceived and harmful dislike of a person’s actual or perceived characteristics that is not based on logic. Those characteristics may include:

  • Race
  • Color
  • Religion
  • Political or religious beliefs
  • Ancestry or ethnic origin
  • National origin
  • Gender
  • Sexual orientation
  • Gender identity
  • Personality or temperament type
  • Socioeconomic status
  • Academic status
  • Intellectual status
  • Physical appearance
  • Any mental, physical, mobility, developmental, or sensory challenge

See Bullying and Cognitive Bias 

Pro Bono

A situation where a legal, healthcare, or other professional waives their service fees, typically for individuals who cannot afford to pay. The recipient still receives high-value service, but the fees are not expected to be reimbursed. From the Latin pro bono publico, meaning “for the good of the public.”

Procedure

A set of specific steps needed to accomplish a task. It answers “How?” by defining what must be done, step-by-step, to achieve an objective. The best Procedures tie back to a corresponding Policy (statement of intention) and Strategic Objective (goal to achieve the vision and mission). Every Procedure should be clear, understandable, and logical.

See Policy

Process

A series of interrelated actions done to bring about a desired result. They act like a continuous loop that starts with an Input and ends with an Output. Every process starts with an initiating event (written or spoken request, ticket, or starting point), moves through a variety of hand-offs and decisions, and ends in an outcome when the final goal is achieved.

Risk

The probability of uncertainty resulting in a positive or negative impact (waste, loss, fraud, or abuse) due to internal or external vulnerabilities.

Risk   =   Likelihood  x  Effect

See Risk Intelligence

Risk Alert Fatigue

Over-exposure to numerous, frequent, and inconsequential warnings to low-probability and low-severity threats that results in:

  • desensitization to high-risk circumstances,
  • a decreased interest in responding to all threats regardless of severity, and
  • an increase in the potential for significant harm.

Risk Analysis

The process of systematically identifying, evaluating, and responding to factors that present a threat to an organization’s growth and success.

Commonly used tools include:

Risk Appetite

An organization’s level of eagerness in accepting threats.

  • Risk Appetite is None when risk can be easily eliminated, and no risk is acceptable.
  • Risk Appetite is Low when risk could have some impact, and a minimal level of risk is acceptable.
  • Risk Appetite is Moderate when gains are likely to outweigh loss, and exposure will add benefit.
  • Risk Appetite is High when gains will greatly exceeds loss, and the cost will far outweighs the potential for harm.
risk appetite, risk tolerance, risk tool, risk acceptance, risk exposure, potential for harm
Grace LaConte’s Risk Appetite and Tolerance Tool

Risk Forecasting

The prediction of future events based on past and present data trends, both quantitative (objective numbers) and qualitative (subjective and objective experiences).

Risk Framework

The structure an organization uses to predict and respond to all threats of damage, injury, liability, or loss.

Risk Index

Categories used to predict the expected impact and probability of a threat or opportunity, to determine which actions can reduce damage and increase the likelihood of success.

Risk index   =   Impact of a risk event  x  Probability of occurrence

Risk Intelligence

One of the 3 types of Strategic Intelligence. The ability to effectively distinguish which actions must be avoided to prevent loss or harm, and which actions must be taken to gain a competitive advantage.

See Strategic Risk Intelligence

Risk Investigation

A systematic exploration to identify and authenticate activities known to cause damage, injury, liability, or loss.

Risk Management

The identification, assessment, and prioritization of an organization’s uncertainties in achieving its objectives; and coordinated implementation of safeguards that minimize, monitor, and control the impact of failure and maximize the chance of success.

Risk Map

A graphical depiction that illustrates an organization’s risk impact and likelihood of its occurrence; used to identify, prioritize, and macro-quantify risks and opportunities.

Risk Maturity

A state of fully developed and proactive decision-making when responding to threats. The five levels of Strategic Risk Maturity include:

  • Level 1 — Vulnerable
  • Level 2 — Reactive
  • Level 3 — Compliant
  • Level 4 — Proactive
  • Level 5 — Optimized
strategic risk, risk management, strategic plan, risk maturity
Grace LaConte’s Strategic Risk Maturity

Risk Measurement

Determination of the likelihood and impact of quantitative and qualitative uncertainties.

  • Low severity and high likelihood: Share (acquire insurance)
  • Low severity and low likelihood: Accept (allow the vulnerability to continue)
  • High severity and low likelihood: Control (transfer risk to another entity), and/or
  • High severity and high likelihood: Mitigate (reduce the number of factors)
risk matrix, risk severity, risk likelihood, high risk, medium risk, low risk, risk management
Grace LaConte’s Risk Matrix of Severity and Likelihood

Risk Monitoring

Regular observation and planned response to uncertainties; systematic review over a period of time.

Risk Preparedness

Readiness for the impact of uncertainty.

Risk Roles

Responsibilities held by every stakeholder in an organization that improve safety and decrease the likelihood of a harmful outcome. Executive leaders have 5 distinct risk roles, which include:

  • Planner
  • Director
    • Accurately gauge problems
    • Move projects forward
  • Organizer
    • Create high-yield systems
    • Design effective processes
  • Staffer
    • Identify work requirements
    • Select, train, and retain people
  • Controller
risk management, leadership, executive leaders, risk roles, planning
The 5 Risk Roles required of Executive Leaders

Risk Taking

Conscious decision to take action that has an uncertain outcome.

Roadblock

A situation that halts progress and makes it difficult or impossible to achieve objectives.

Root Cause

The most fundamental reason for occurrence of a failure or negative result.

Scrooge Effect

Also known as the “Dickens Process,” this method is based on the book “A Christmas Carol” by Charles Dickens, in which the main character Scrooge is shown his future if he continues doing the same behavior. The intense pain he feels is so great that he makes drastic changes in the present day. Self-help speaker Tony Robbins uses it in training seminars.

A Christmas Carol, Scrooge, Alastair Sim, 1951
“A Christmas Carol” movie cover

Here’s how to use this process:

  1. Set aside time to stand up comfortably and without distraction. (Standing engages your entire body physiologically, making the outcome more effective)
  2. Visualize your life right now. What is making you happy? What is missing? What limiting beliefs are holding you back? In which ways are you trying too hard?
  3. Once you identify the emotions associated with the pain of missing out, zoom out and see your life as you’re floating high above. Travel back in time to one of the most painful moments. Feel the emotions, visualize what it looks like, and listen to the sounds as if it were happening right now. How did your limiting beliefs affect what you are doing now? What do you regret? What would you do again, or skip if you could do it over again?
  4. With your eyes closed, imagine rising up and travel back to the present moment. What have the limiting beliefs cost you? Where are you experiencing pain because of past decisions?
  5. Finally, zoom out again and travel 3 months into the future. What are your limiting beliefs continuing to cost you? What is your life like? How is it worse or better? What pain are you feeling?
    Continue zooming forward 1 year, 5 years, and 10 years into the future, and repeat.
  6. Now return to the present moment. What are your new empowering beliefs? How will you replace the limited beliefs with new ones?
  7. The last step is to zoom back into the future. Now that you have changed your limiting patterns, experience the pleasure and enjoyment of how your future self feels.

Celebrate that future, and commit to achieving it.

SMART Goals

A method to identify one’s desired objective using 5 points:

  • Specific
  • Measurable
  • Achievable
  • Results-Oriented
  • Time-Bound

See CLEAR Goals

Stagnation

A state of inactivity or decreased growth. Latin: stagnum (“body of standing water”).

Stakeholder

An individual with a vested interest in the success of a system or organization, and who is both the contributor and recipient of that investment.

Examples: Customers/patients, investors, managers, employees, creditors, government agencies, suppliers, volunteers, and the community.

Strategic Bias

The unconscious partiality toward a particular outcome that occurs because of unrecognized blind spots, insufficient information, and/or cognitive dissonance.

leadership blind spots, leadership, blind spots, bias, strategic planning, risk management, vulnerabilities
Grace LaConte’s “Leadership Blind Spots and Bias” Diagram

See Cognitive Dissonance

Strategic Objectives

The goals an organization’s leaders wish to achieve, which aligns with the overall direction (Strategy) as stated in the Vision, Mission, and Values (VMVOM).

Strategic Plan

A document which identifies the organization’s

  • overall direction (Strategy),
  • which goals they wish to achieve (Objectives),
  • using which actions and resources (Tactics), and
  • how they will know it was successful (Measures).

This is abbreviated as VMVOM: Vision, Mission, Values, Objectives, and Measures.

See VMVOM

Strategic Risk

The vulnerabilities and untapped opportunities that affect an organization’s ability to achieve goals.

Examples:

  • Known vs. Unknown risk
  • Negative vs. Positive risk
  • Desirable vs. Undesirable risk
  • Integrated vs.  Partitioned risk

Strategic Risk Analysis

Detailed examination and interpretation of data related to an organization’s decision-making, hidden blind spots, and future uncertainties.

Strategic Risk Intelligence

The ability to effectively distinguish vulnerabilities and untapped opportunities in developing an organization’s goals, and translate these insights into superior judgment and practical action. Composed of 3 areas: Risk Intelligence, Innovation Intelligence, and Communication Intelligence.

Frameworks, strategic and risk intelligence, innovation, communication
Grace LaConte’s basic framework of the 3 types of strategic intelligence

Strategic Risk Management

The identification, analysis, and control of uncertainties that impede an organization from achieving its strategic objectives.

StrengthsFinder

The Clifton StrengthsFinder® is a fantastic tool.

  1. It helps you recognize your motivations and passions
  2. The results show your “top 5” talents out of 34 possible
  3. Each of your “top 5” fall into four Leadership Domains (Executing, Influencing, Relationship Building, and Strategic Thinking)
  4. Investment of $19.99
  5. Takes about 30 minutes to complete
StrengthsFinder, Tom Rath, NYT Bestseller, Wall Street Journal Bestseller
Front cover of “StrengthsFinder 2.0”
Strengths, StrengthsFinder, Gallup, Leadership domains, leadership strengths, executing, influencing, relationship building, strategic thinking
Gallup StrengthsFinder’s 4 Domains of Leadership Strengths

See Myers-Briggs

Super SWOT

This variation on the SWOT analysis provides a cross-section matrix of characteristics:

  • Strength-Opportunity (SO) Strategies
  • Weakness-Opportunity (WO) Strategies
  • Strength-Threat (ST) Strategies, and
  • Weakness-Threat (WT) Strategies

See SWOT

Surprise

To discover something unexpected and without warning; can be positive (pleasant wonder, astonishment) or negative (sudden attack, shock).

SWOT Analysis

This tool, which stands for “Strengths, Weaknesses, Opportunities, Threats,” is widely used for strategic planning. It provides a rapid assessment of the key problems that may be holding a business back, and areas in which to invest more time and energy.

See Risk Analysis and Super SWOT

Transaction

The conclusion of a business negotiation or exchange. From the Latin: trans- (“through”) and -agere (“to drive”).

See Transaction Avoidance Syndrome

Transaction Avoidance Syndrome

A condition in which a person prevents business negotiations from concluding, either deliberately (by offering discounted, premature, or complimentary services) or subconsciously (by not invoicing immediately, neglecting payment followup, or apologizing excessively and unnecessarily).

A related condition is “overgenerosity,” described in Customer Reactions to Service Provider Overgenerosity by Hooman Estelami and Peter De Maeyer in Journal of Service Research.

See Ambivalence

Underconfidence

Excessive uncertainty and hesitation about one’s beliefs or actions.

Unknown

Something that is unfamiliar, not recognized, or inconsistent.

VMVOM

Acronym of the 5 basic components of an organization’s Strategic Plan:

Vision: “What does a perfect future look like?”
Mission: “Why do we exist, and who do we serve?”
Values: “What guides our behavior to others?”
Objectives: “Where are we going, and How are we getting there?” and
Measures: “How will we know when we’ve arrived?”

Vulnerability

The state of being exposed to the possibility of attack, harm, or damage. From the Latin: vulnus (“wound”). In organizational management, there are 4 distinct types of vulnerabilities:

  1. Waste – Actions which consume
  2. Loss – Actions which deprive
  3. Fraud – Actions which deceive
  4. AbuseActions which injure

Waste

One of the 4 organizational management vulnerabilities. To consume, spend, or use in a destructive or neglectful way.

Examples: According to the Lean Six Sigma concept, only 5% of processes contain any value-added activity; all other activities (95%) are highly inefficient Wasteful activities can be summarized in 7 types, with some experts adding Talent as the 8th.

Here they are:

  1. Over-production waste (using more than needed or faster than needed)
  2. Processing waste (extra steps that do not add any value)
  3. Transport waste (excess movement of materials, tools, or equipment)
  4. Waiting-time waste (delays or unavailability of resources)
  5. Inventory waste (over-purchasing, accumulations, obsolete stock)
  6. Motion waste (poor workflow, disorganized and non-standardized processes)
  7. Defects (unclear customer specifications, improper quality control)
  8. Talent waste (this 8th source of waste is the under-utilization of employee talent, which can lead to disengaged and unmotivated staff.)

            See Loss, Fraud, and Abuse

Whistleblower

Someone who reports activities that are unethical or illegal (including waste, loss, fraud, and abuse) which violate ethical standards, regulatory practices, and/or federal or state laws.

Workflow

An orchestrated sequence of activities where tasks, documents, and/or information are transferred step by step in order to achieve a final outcome; can be depicted in a visual diagram.

Yes-Person

An individual who follows an instruction without questioning whether it is appropriate, legal, or ethical.

Yin and Yang

Based on Taoist philosophy, Yin and Yang allows a balance between extremes of Yin (collaborative, supportive, decentralized) and Yang (hierarchical, dominant, aggressive). In strategic decision-making, finding a balance between these two extremes allows the planning process to enjoy a higher likelihood of long-term success.

Yin and Yang, extreme, balance, strategic balance
Grace LaConte’s description of Yin and Yang balance in strategic decision-making

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Speaking and Training Terms

Breakout Session
Keynote Speaking
Panel Discussion
Seminar
Webinar
Workshop

Breakout Session

A brief, powerful, and poignant discussion among a limited number of conference attendees related to the broader event theme.

Keynote Speaking

An event’s highlight message that sets the tone and encapsulates the sponsoring organization’s core message and values.

Panel Discussion

Expert discussion to an audience at a scientific, business, or academic conference.

Seminar

An informative presentation (virtual or in person) with a combination of lecture, visual materials, interactive tools, and demonstrations for a complete learning experience.

Webinar

A presentation, workshop or seminar conducted over the Internet that is interactive (attendees are encouraged to participate), multimedia (blends visual, audio, slides, and handout materials); may occur in real-time or previously recorded.

Workshop

A highly interactive method for participants to learn and apply new skills (virtual or in person). Unique demonstrations, hands-on testing “labs,” and skill practice are designed to help participants easily adopt new techniques.

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Read more…

Strategic Consulting and Facilitation
Risk Intelligence Training
Executive Coaching
Keynotes and Workshops


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