Business and Money Tips

The Biggest Risk Is the One Your Board Cannot Imagine Most companies believe they understand risk. They have internal controls. Risk registers. Audit committees. Enterprise Risk Management.  Policies, procedures and compliance frameworks. Yet companies with all these things still suffer major failures. Why? Because sometimes the greatest risk is not the risk you failed to measure . It is the risk you failed to imagine. The Problem with Risk Registers Traditional risk management often begins by identifying known risks, assessing their likelihood and impact, and then designing controls to mitigate them. This is necessary, but it has a weakness. It encourages us to think about tomorrow using what we already know today. But the future rarely behaves exactly like the past. Imagine a board discussing a major investment. Management says:  “There is only a 10% probability that this will fail.” That sounds reassuring. But what exactly does 10% mean? What if s...

The 5 Ways to Manage Risk: What If AI Replaces Your Job? Artificial Intelligence (AI) is no longer a future possibility, it is a present reality. Across industries, routine tasks are increasingly being automated. While AI creates new opportunities, it also raises one important question: "What if AI replaces my job?" Good risk management is not about eliminating all risks. It is about making wise decisions before risks become crises. A simple and practical framework consists of five risk responses : 1. Avoid the Risk Do not start, accept or continue with the activity. If your role is almost entirely repetitive, rules-based and predictable, continuing to rely solely on that job may expose you to significant AI disruption. For example: Data entry Basic bookkeeping Simple customer service Routine reporting Instead of remaining in a role that AI is likely to automate, consider moving into work that requires: Leadership Creativity Relationship building S...