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RISK IS PERSONAL
There is no doubt that a million years from now our individual lives and actions will prove to be of little lasting significance. Nevertheless, we are destined to promote our immediate personal interests to the best of our abilities. Have you dwelt on what the best way to achieve this? There are many solutions of course.
The intention of this opening statement is to sharpen the focus on the here and now; also to reveal the individual’s exposures in a broader society or in regulated self-interest vehicles such as companies. We should not consider ourselves immune to, or shielded from, the effects of large positive or negative events, either because we are not the boss or responsibility is not specified in our job description.
What is meant by ‘risk is personal’ and what does this mean in our lives? There are many factors for us as individuals to reflect on; here are a few of them:
You can debate or ignore the above points if you like. However, it would be madness to believe that when your employer or team encounters a major problem, that you would remain magically insulated from the effects. To put it more simply, if they lose, you lose too.
The tide is turning. We are quickly approaching a tipping point of sorts; transparency is coming into the practice of business regardless of size. Logically this means that there will be knock-on effects for individuals too, the primary one being the need to take responsibility for your actions.
So where to from here? We are faced with the usual choices, to buy-in and self-improve, ignore it do nothing and hope it goes away or there’s always the King Canute option, to demonstrate through our activities that there is nothing we can do to stem the tide.
To close on a positive note, I heartily recommend that you choose to give yourself the best chance to win the business evolution race and adapt to your changing environment.
... “ART is an authorised Financial Services Provider”
Supplier of Risk Management services to the 2010 world cup South Africa
Paul Brightman - Alternative Risksmiths and Traders (Pty) Ltd. Short name - ART.
Cell : +2783 708 3634 Work : +2711 646 2777
11, Taylor Rd, Greenside, Johannesburg. Code: 2193.