Make It or Break It: Can You Name Your Top Three Risks in 20 Seconds or Less?
Do You Know What Your Company’s Top Risks Are?
If you cannot name the top 3 risks for your company in 20 seconds or less, you could be in big trouble.
Having great balance sheets and above average income is definitely something to be proud of for your company. But having great sales numbers alone does not immune you from unexpected events. These unexpected events can have positive and negative consequences if leaders do not understand what risks could impact their companies. If you don’t know what they are, here are two sample questions to ask to jumpstart the conversation:
- What can happen and why?
- What are the consequences?
- What is the probably of future occurrence?
Risk Management is all about Leadership confidence. “A confident leader articulates their risk in a manner that offers transparency to stakeholders and builds support for helping them be successful,” says Dr. Hardy. A leader that know what their risks are in 20 seconds or less, is a confident leader and probably leads a confident company.