The COVID-19 virus continues to spread rapidly, and it has brought many countries to a standstill. With rising concerns for health and well-being, many governments have placed restrictions on travel, public meetings, restaurants, schools, and daycare centers in order to lower the risk of infection among the most vulnerable members of our society.
This type of evaluation will stretch you. You may find information about your company that is embarrassing. And you might decide to keep it private—known only to you or your leadership team. Or you could share the results with staff or customers. There’s nothing wrong with editing the content to fit the audience (especially if you’re an introvert like me).
But if you’re willing to be totally transparent, sharing a Year In Review with the entire world is extremely effective.
When you hear the word “risk,” you probably think of either something dangerous (“don’t do that, you could get hurt!”), or an action that is likely to fail (“if this works out, we’ll be rich; if not, we could lose everything”). But risks are actually neutral; they’re neither good nor bad, but simply describe a degree of uncertainty.
We tend to say that risks are either “positive” or “negative.” But what we’re actually describing is the outcome. If a risk brings a positive outcome, we might enjoy new opportunities and pleasant surprises. If a risk brings a negative outcome, we could experience damage, injury, liability, or loss.
The factors that contribute to outcomes are called threats. Although most threats can’t be eliminated (such as consumer purchase habits, economic instability, and increasing reliance on technology), we can definitely reduce the chance that we will suffer from a negative outcome.
I’m passionate about helping leaders to recognize vulnerabilities in their organization: areas where an attack or loss is likely to occur. In this article, I explain the importance of developing your awareness of risks in a strategic context, the “perfect blend” of strategy and risk, and suggestions for managing them.