Risk is a familiar concept in the business world. Leaders and Business Owners are regularly finding ways to minimise, avoid or transfer risk in their daily activities. Therefore, it is not surprising that risk management resonates well within the business community.
Risk proximity is an aspect of risk analysis and mitigation that is often neglected. Essentially, with risk proximity, you are trying to determine how soon the risk could occur. This may not be always possible to gauge accurately, however, you will be better prepared to mitigate such risks even if all you have is a rough idea when they might occur.
Is there a clear and present danger, or opportunity? Can you estimate when in the future it will occur?
In your experience, how have you led in times of risk? How have you managed risk proximity?
Leaders appreciate the different dimensions to risk management, and teach their people accordingly.
GAICD, M.Comp (Monash)
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