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Risk Management And Change
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Risk Management And Change
A special pair of glasses with eyesight to the large picture, change just as the economy is making the necessary changes. Companies are also being forced to make changes, whether in a better way or for worse. What is different from better? In reality, companies either fail or grow, there is not another choice to make. Change is the only tangible realm of business. What are the reasons to change? The unique pair of glasses examines the issue at hand in this statement, "most wait till it's too far to make the move such as layoffs, downsizing and bankruptcy then occur". The root of the issue is likely to be lack of orientation education in the current environment, as well as lack of simplicity. Other causes include perception, dynamic stability, lack of management that is emotionally charged and lack of complacency. The time to bring in change is now before the credit crisis takes further hold, before DIO's* increase to higher levels and DSO's** increase and diminish current cash flow. So begin a program of change now Then, the happenings in the first two lines of the final paragraph are in control. Visit:- https://www.diojournal.com/ You might ask, how do I begin to make changes in our company when it is so efficient? It's a good question. However, I'd bet you don't have a Risk plan since this is a great start. If you are having difficulty getting started, your best option would be to hire a consultant. If you've got an Risk plan that is great, you should take an additional look at it, however, not in the way you initially wrote it. It is a good idea to review your Risk plan every time you meet with management. You might be amazed by things you didn't think of. This is where you can see the beginning of change. The more you look over it, the more risk you will minimize. Following your review of your current plan, I suggest software to help with Governance to ensure you will understand what your other risks are , and it can also help with to ensure compliance with other requirements. Let's take a close review of some other items to begin the process of making changes. Other tools you can use to initiate the change process include: 1. Re-evaluate your orientation program If you're not retaining employees over than three years find out why. Are you training them for at least 2 months? If not, or completing a cost-benefit survey of the savings you could be able to enjoy if you had them for three years, there should be significant savings. A detailed review and possible revision in the current program is recommended. Also, is your company engaged in a culture of lifetime learning? The need for change is that new ideas, Methods and Programs are developed and renewed, keeping up with the latest technology and trends is essential in this realm. 2. Certainly, the culture of your organization must change , particularly if innovation or technology is the necessary development in your industry. First and foremost, companies need to open up lines of communication, my recommendation is to open meetings with management from the top to group discussion, or brainstorming including additional lower-level employees and allow for more important communication from the bottom up in order to end the current "Top down" method of management". If you are following this method, make sure to open the communication channels gradually, a good way to start is making rounds and asking questions, you are likely to be amazed by what you will find out. Another way to instill changes in the culture is to cut off e-mails for each week on a specific day. wide and visit the person who you need details from on the day. This builds bonds and builds camaraderie. 3. I just finished an engagement in which I was required have to "understand" how to reconcile bank statements due to the simple fact that the journal entries were performed inside the system but not apparent to the account for payroll in any way instead of moving money to the proper account and then having ADP create the accounts, the deposit side was sourced from various places and was difficult to understand and resulted in wasting several hours. Many other complicated journal entries were used in this project and were time-consuming to unravel, costing the business excessive dollars. This comes down to simplicity Keep your reports, processes and e-mails simple to understand and ensure they are updated so if you are bringing in a temp or consultant, or have new hire processes and tasks are easy to understand. Remember , time is of essentials, and not having a plan for these scenarios costs hard payroll dollars and reduces productivity. Eliminate that one report or process that is unnecessary, these items cost your organization productivity. How? It distracts from how efficiency and creative thinking can be enhanced and focuses on an unneeded task this time could be better spent to plan for growth in the future.

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