By definition, ¨Value¨ is an improvement in the corporation or business performance in one or more of the following areas: Improves Revenue Increase Cash Flow Reduces cost Increases Profitability and Shareholder value Advances the Corporation Business Initiative Surely, risk mitigation is a value creator, since its primary objectives are to protect the corporation against possible liabilities,…
Software as a Service (SaaS) is a software distribution model in which applications are hosted by a vendor or service provider and made available to customers over a network, typically the Internet or shall we say: in the Cloud. This service model offers key benefits such as price scalability. This ¨pay as you go¨ solution…
“Risk awareness is 90 percent of the battle,” says John Varvaris, a former risk-management consultant who is now president of Best Doctors. Risk is everywhere and it is every employee’s responsibility to identify and mitigate risk. A risk comes in many shapes and sizes, for example: Operation compliance, financial, technological and reputational. Many constituents, both…
Earlier this week, I have started reading the book: Training the Samurai Mind. Although there is a lot to be said about the Wisdom of Samurais, I was inspired by a passage from Shiba Yoshimasa (1349–1410): ¨One should be objective in regards to all things. These days there are few people who are that discriminating…
By Carlos Torres Incident Management Director carlos.torres@parm8020.com Last night, after having dinner with my family, I got an email about an incident that happened at one of our clients’ stores. This incident required the immediate attention of someone… Who was that someone? I was that someone, and this matter, required MY attention. So, I went…
By Carlos Torres Incident Management Director carlos.torres@parm8020.com Every day new companies are born, some having massive growth, while others disappear, even after reaching some success. Have you ever wondered, how some companies gain so much market share while others remain stagnant? Whereas many factors may affect the success of any given company, I have…
By Lara Bachaalani, Incident Management Specialist We are often under the false impression that we are accountable for everything that happens on our property. However, the concept of liability is much more complex. In the context of retail, the liability of your organization may be involved in several ways, most famously by negligence. This neglect can result…
Power outages can occur at any time and they can be extremely damaging to your retail store operations. As Toronto Canada braces for more power outages, Retailers must deal with the risks associated with the unpredictability of the situation, which needs immediate attention to secure the store premise. Working hand in hand with the local…
In the retail business, one of the most common principle is ¨retail is detail¨. Our opinion is that this principle applies to both marketing and risk management. The only way to effectively manage risk is to attend closely to details and be concerned about the impact of an incident may have on the sustainability of…
We live in competitive times. We’re seeing new business models were the staff and crew needs to be coordinated and managed effectively both locally and remotely. Meeting the integration challenge of performance and technical skills of risk management resources is top of mind for most risk management officers. What it really means is the ability…