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The future of resiliency is not resiliency

Zona Walton [ADP - Global Business Resiliency] and I spoke at a private conference last month. The title of our session was The Future of Resiliency. We explored the idea that the future of resiliency isn’t resiliency; that is, it will be something else.

Lootok future of resiliency
The future of resiliency is not resiliency.

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Inspiring commitment over compliance: the elusive dream of all risk managers

Why can’t risk management, crisis management, and business continuity be a rewarding experience that people actively desire to be involved with?

Lootok Experience Model

This question led us down a path of evaluating the phenomena of experience. What makes an experience good or bad or great? Why do we love some brands and hate others? Why do we join some groups and not others? Why do we love that cash-only, poor-service, overpriced empanada spot in a run-down building on the Lower East Side, but we would be outraged with the same service and accommodations at another restaurant? Unlocking the answers to these questions begins with understanding your target audience.

  1. Who are they?
  2. What do they care about?
  3. What do they struggle with?
  4. Why should they care about your program?

While the Demand Model® evaluates the engagement level of an audience, the Experience Model™ gives us the tools to increase that demand.

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Lootok presented at Continuity Insights 2016

Last week, Lootok presented with Matt Jarm from Mars Inc. about supply chain resiliency at the New York Continuity Insights Conference.

In our session, we covered the critical aspects of rolling out and maintaining a global supply chain operational risk – business continuity program.  Supply chain leaders are naturally gifted at managing risk, as it is part of their daily lives. But, supply chains are naturally dynamic (i.e., disruptive), which makes many of our traditional operational risk – business continuity techniques ineffective. Supply chain leaders need risk management techniques and tools to help them make decisions, solve problems, and communicate in complex environments.

Learning objectives covered:

  • Common pitfalls (i.e. too fast, too big) of risk and resiliency supply chain rollouts.
  • The necessary methodologies, tools, and roadmaps to be successful in today’s complex, nonlinear, supply-chain environments.

Download full presentation

Supply Chain Resilincy Lootok Continuity Insights 2016
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Lootok presents at the Enterprise Risk Management Summit

Join me at the Enterprise Risk Management Summit in Las Vegas on November 2, 2016!

I will be speaking with Andrew Miller from ADP about linking reputation management, business continuity and crisis planning to strengthen risk resilience.

Where: Rio All-Suite Hotel & Casino in Las Vegas
When: November 2, 2016, 9:00am
What: Linking reputation management, business continuity and crisis planning to strengthen risk resilience

ERM conference 2016
We look forward to seeing you in Las Vegas!

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Risk Management’s Sweet Spot

Chris de Wolfe, global director of risk management at Mars Inc., shares his challenges of getting the global risk management program at Mars up and running.

“The CRM group had a lot to offer but was severely underutilized, which led to high insurance premiums, a high risk profile, and a significantly reduced resiliency and recovery capability,” Chris said.

Reflecting on how Mars as a business became a major success, de Wolfe decided that he needed to market and promote his own department in the same way. Partnering with Lootok, a risk management consultancy firm, he developed a strategy to engage with the employees in a fun yet educational way. He devised a 5- to 10-year plan, broken into 12- to 18-month strategies and individual project plans by mapping out all of the products and services that risk management offers. He conducted a perception survey and drew up a program based on the ABCs of risk management.

“The ABCs allowed people to understand that risk management not only provides insurance, but it also ensures that the business continues,” said de Wolfe.

Sean Murphy, CEO and founder of Lootok, said of de Wolfe:

“I’ve known Chris for 10 years and what differentiates him is that he treats his program as a business. He had a good program before but he wasn’t satisfied with it so he completely revamped it and is now reaping the benefits.”

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Lootok’s 8Rs™ of Resiliency: easy and effective model to communicate, employ, and remember

When working with the masses [end-users; not experts in risk management, business continuity, crisis management], I find it beneficial to present clear, concise, and concrete packaged solutions. People need guidance and structure to help them think through problems and build effective plans. This is one of the reasons Lootok created the 8Rs™ of Resiliency. The goal the 8Rs is to reduce uncertainty, simplify complexity, structure thinking and dialogue, build common ground, and establish preparatory activities. The 8Rs facilitates planning with a plan as the end deliverable (i.e., plans are the byproduct of planning). The 8Rs are designed to provide people with a set of options they can employ to continue operations under various threats and timelines. The 8Rs™ of Resiliency comprises of the following:

  1. Relocate - physical moving assets (e.g., people, technology, equipment) to another location
  2. Reassign – transferring processes (i.e., work) to another location
  3. Repair / Replace – capabilities in place to fix the problem at time of event
  4. Reinforce – fortify, strengthen, assets to tolerate greater impacts and occurrences
  5. Replicate – simultaneous production (i.e., processes, technology, work) at two locations [duplication]; active-active
  6. Redundancy - extra capacity and inventory
  7. Risk Transfer – shift risk to other entities through insurance, contracts, and risk pooling
  8. Relinquish – do nothing [e.g., too cost prohibitive]; risk acceptance strategy
Lootok's 8Rs™
Lootok’s 8Rs™

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Lessons learned from Mayo Clinic - risk management is the organization’s immune system

Since starting Lootok, once a year I go to Rochester, Minnesota, my home State, to take my annual executive physical at the Mayo Clinic. It gives me a good reason to get back to Minnesota to visit family and friends, while maximizing my medical checkups. In just two days, more than fifteen doctors evaluate me. Risk management shares many similarities with the medical field, and it’s where you find the best analogies and metaphors. I wanted to share few of the insights I have gleaned over my time at Mayo.

Risk management is analogous to the immune system. It is not a thing or part. It is a system that co-exists within other systems that must properly function with a larger system called the organization | organism. You cannot just fix the immune system, buy it, or expect miraculous resiliency overnight. The immune system must be earned, strengthened and maintained every day. You need healthy habits, positive attitude and healthy living and work environments, proper planning and long-term vision and dedication, so forth. Risk management works the same way. Risk management also has the same challenges as our immune system: we don’t think much about it until something goes wrong.

Immune system
Immune system

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Can risk management ever be a revenue generating activity?

It seems like selling risk management projects internally can be like pulling teeth. So what would it take for people to be willing to pay for risk management initiatives? We posed the question to a group of risk management professionals on LinkedIn in preparation for our upcoming Building a BCM Brand webinar. Here’s some of what they had to say.

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