The overwhelming sentiment I am noticing today is that so many people feel a profound sense of loss for someone they have never met. Steve Jobs changed everything!
How many business leaders in history can we truly say changed the world? Not only did he revolutionize personal computing, mobile phones, the music industry, and the way people read, play and work, he also inspired a generation of innovators and entrepreneurs.
I recently participated in an interview on the risks faced by SMBs with Pam Clark of Business Insurance. Matthew Brodsky of Risk & Insurance Magazine, Jon L. Gelman an expert on worker’s compensation and I set out to give small business owners some useful advice on their most pressing risk management issues. Go here to view the full interview.
Matthew and Jon provided some excellent answers, so the entire article is well worth reading! For the benefit of our readers, I want to reiterate 6 important points we covered.
Early Risks to Address
The risk involved with social media is not a new topic. In fact, we talked about it last year in our blog post Social Media Policy: Avoiding a Death-Blow! This is still a relevant topic; with the popularity of social media ever increasing, businesses must prepare for the risks that come along with the opportunities that social media provides.
I asked the LinkedIn community “How do you handle the risk of social media in your company?” With such a great response, I had to share the discussion. Here’s what several LinkedIn professionals had to say.
This week, ClearRisk is proud to present a guest blog post by Allan R. Morton, Jr. CIC, CRM.
Allan is the managing partner of Morton Insurance & Risk Management. 15 years in the industry is marked by his passion to drop money to their bottom line and increase negotiating leverage with insurers via proactive risk management. He is a Certified Insurance Counselor as well as Certified Risk Manager.
One of the biggest challenges I have is how to keep a prospective client’s eyes from glazing over when the phrase “Risk Management” is mentioned. It’s almost like those two words are part of a magical incantation which puts many in upper management into trance-like states. It confounds me. There is something utterly unglamorous about it I suspect. It’s not exciting, flashy, or as sexy as landing a big deal.
ClearRisk has received great support from the social media world. From Twitter and Facebook to the risk management blog and LinkedIn, ClearRisk has gathered thousands of active and devoted followers.
In recognition of their overwhelming support, the ClearRisk team is giving back to their social media followers with the first ClearRisk Giveaway; one lucky follower, chosen from our various social media channels, will be the winner of a new iPad 2!
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This is the second of a series of posts entitled Best of @ClearRisk – Our Risk Management Twitter Feed. Click to read our previous risk management Twitter feed post.
With a busy and constantly updating Twitter feed, it is sometimes easy to miss great risk management content. Last month, we noted some of the most popular blog posts and articles that have been shared on the @ClearRisk twitter feed. 
First, we tweeted about The 10 Best Industry Blogs, a post from Risk Management Monitor. This was our top clicked-on link for risk management news; the post acknowledges 10 of the best blogs in the risk management and insurance industry. We would also like to thank Risk Management Magazine for recognizing our blog amongst these great industry resources. Risk Management Monitor provides daily stories, commentary, interviews, and more, all related to the risk management and insurance industry. Be sure to visit Risk Management Monitor and read the blogs mentioned within the full post!
Throughout the lifespan of a corporation, stakeholders can be faced with the risk of economic crime. Often, it becomes a reality long after the issue should have been brought to the attention of the board of directors. Entrepreneur that have invested a great deal of time and energy building a company from the ground up, find it hard to imagine that something as intrusive as economic crime can happen to them.
Do you have the processes in place within your company to mitigate this risk? If you don’t have a plan and solutions in place, there is a possibility that you will be blindsided by fraud, worse yet – there’s a chance it could have been prevented.
Time will tell if the Gulf of Mexico oil spill will kill BP or just severely cripple it, but whatever the case I’ll bet they didn’t see it coming! Will you?
It looks like this spill will be (if it isn’t already) the biggest man-made disaster ever. The extent of the spill, the scope of damage and the resulting impacts on the environment, marine life, economies, and people remains to be seen, but catastrophic sums it up. BP and all of the other world’s oil companies plan for spills. They build complex risk models, examine alternative worst case scenarios, look at maximum probable losses, and they are generally very good at measuring and managing risk. But what if the worst case scenario that you imagined turns out to be wrong?
The economic downturn has presented its share of challenges for business around the world. Adjusting to the “new economic normal” hasn’t been an easy task as the broad scope of operational changes, closures and bailouts have shown. It’s been a trying time for business, but positive signs of change are beginning to emerge; strategies are being aimed at making the most of the upturn, investments are leading economic activity and strategists are identifying early increases in consumer confidence.
Edging out of the recession and seeing better economic conditions around the corner, it’s important that businesses be aware of the downside of the upside of risk!
It’s common to view risk negatively, but every entrepreneur knows that there is no reward without risk. Risk brings opportunity and is the balance between the upside and the downside. There are many changes that will come with a global economy that is on the upswing; credit will become more widely available, businesses will begin to prosper and begin hiring, business spending restrictions will ease, investments will be made in infrastructure and companies will look for ambitious growth.
As discussed in one of our blog posts from last year, the downturn has been a time for improving operations, strengthening relationships with customers and preparing to make the most of the recovery. Now that the upswing is upon us, bringing positive change and room for growth, it’s important to plan for the risks that will no doubt accompany the opportunities presented. In the upturn of the economic recession, make sure you don’t become your own worst enemy.
A company’s reputation is its biggest asset! Successful companies have always guarded their reputations at all costs. Corporate communications have always been very structured and deliberate and the messaging meticulously controlled by dedicated professional spokespersons. That was before blogging, Twitter, Facebook and all the other new social media that gives all of your employees and customers a soapbox and a bullhorn with a global audience!
You’d be hard pressed to find someone these days who can argue against the impact that social media has had on the way that we conduct business. From customer support and advertising to internal controls and knowledge sharing, social media has changed the way we work and has changed the expectations of customers.
As we try to better understand how to use social media to our advantage, it’s important to consider managing the associated risks. We need to ensure that employees know the Dos and Don’ts and the potential impact on the company and them of going “off script”.
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