Why upgrade to enterprise risk management?

The Global Financial Crisis taught us the importance of robust risk management practices in identifying and addressing issues that have the potential to impact on overall business objectives. Many organisations have implemented risk management programs, however a significant proportion of these have yet to realise the benefits of upgrading their programs to best-practice Enterprise Risk Management.

What’s the problem with traditional risk management programs?

Historically, risk management has tended to focus only on the negative – how do we identify what might go wrong? How bad will things get if it does? How can we stop it?

Another feature of old-fashioned risk management has been the tendency for it to be “siloed”, with each section of an organisation having its own approach to managing risk.

Modern, best practice Enterprise Risk Management has moved contemporary risk management programs and thinking beyond these limitations.

Why is Enterprise Risk Management better?

Enterprise Risk Management (also known as ERM) has a range of benefits for contemporary businesses:

  • ERM achieves efficiencies across the whole of the organisation by integrating a common approach throughout all functional areas.
  • ERM avoids the pitfall of concentrating on minor risks (such as slip hazards) at the expense of big picture risks (such as failure of critical infrastructure).
  • ERM captures the positive side of risk management, by also considering opportunities for new services, process efficiencies, improved methods of service delivery etc.

What strategies assist adoption of Enterprise Risk Management?

 

QRMC frequently assists organisations to develop or expand their risk management programs to embrace Enterprise Risk Management. Our experience suggests that useful strategies to successfully move to Enterprise Risk Management include:

  • Strong committed, visible leadership.
  • Recognising that risk management is an ongoing (not once-off) process.
  • Treating risk management as a tool to achieve business objectives, not as a compliance exercise.
  • Extensive consultation with, and training of, personnel (at all levels).
  • Consistently integrating ERM across all systems and functional areas within the organisation.

Special considerations for business or department amalgamation

 

A regular feature of contemporary business is the process of amalgamation, either of existing segments of an organisation, or of one business with a completely independent second business (M&A).

Determining the business objectives of a new organisation formed in this way is not always a straightforward exercise. The clarity provided by the risk management process greatly assists this determination.

However, amalgamation poses particular difficulties when it comes to the risk management program:

  1. There are often difficulties involved in assimilating risk-related information from different sources, produced using different methods.
  2. Amalgamation poses the threat of extending the commonly experienced problem of risk management “silos” (as mentioned above) even further by creating silos based on the original business or department entities.

On the positive side, these difficulties present an opportunity to reach solutions by upgrading existing risk management systems to Enterprise Risk Management. Moving the new entity to Enterprise Risk Management provides opportunities to:

  1. Clearly identify the objectives of the new entity, and what risks and opportunities exist in achieving these objectives.
  2. Break down barriers and foster a new organisation-wide approach to risk management and the determination of uniform risk appetite.

Next steps

 

Risk management as a discipline has proven its value over time. Now businesses can extend this value even further by upgrading to Enterprise Risk Management.

For more information on Enterprise Risk Management, safety management, business continuity management and management systems, contact us. We are experts in providing independent and objective facilitation of the process of upgrading or developing new Enterprise Risk Management programs. You can also access other informative articles on our News page dealing with Enterprise Risk Management, as well as newsletters downloadable from our Publications page covering Enterprise Risk Management issues.

The cleaning wonder that is clove oil

Clove Oil has been commonly known as a pain reliever in the medical world. With its natural analgesic property, it has been used to ease toothache, muscle tension and even skin irritations. Despite its reputation as a healing extract, people are finding more ways to use it beyond its usual purpose.

Today, Clove Oil is also considered as a good household cleaning agent. Here are a few ways to make use of the cleaning wonders of Clove Oil -

Mould Removal – moulds make bathroom and sink tiles look dirty and aged. Killing moulds is a breeze by creating a simple mixture of water, Clove Oil and perfume oils. Just spray on and let it do the rest. Moulds drop off in no time while giving the bathroom a fresh scent. In the recent Queensland floods clove oil was used extensively by householders to remove mould from walls.

Metal Polisher – Clove Oil is effective for cleaning dust and dirt in metals while keeping its luster on.

Odor eliminator – a simple heating of scented clove oils can get rid of unpleasant odors within the house.

Stacked Stone Sydney

If you are looking for a place to get only the highest quality Stacked Stone Sydney has available then look no further than with Craftstoneoz.com.au. Craftstoneoz.com.au is able to deliver the unique beauty that a natural looking stone cladding wall has to offer. A stone feature wall made out of pure natural stone is very rare these days. It may have been commonplace eons ago but in this day and age the supply of very fine and beautifully crafted natural stone has dwindled to the point where it can be extremely expensive. Craftstoneoz.com.au gives the best solution if you truly want to have the best Stacked Stone Sydney can ever have.

The solution is in the material. Instead of scouring the world for very rare and pure natural stone, Craftstoneoz.com.au molds replicas from a mix of cement, pumice and other materials. Even if you were to take a magnifying glass and inspect the stone pieces very closely you will not find any difference between these products and real, natural stones. The color blends all the way through the product so even if you were to break a piece and shatter it on the ground, the color would be the same all throughout the broken shards, making them appear even more authentic.

You do not need to worry about any event of repetition either. When molding, over a few thousand molding models are used that will essentially remove any possibility of repetition. Another thing to note is that all of the stones are colored one by one, therefore there will never be any two stones that are exactly the same. You could inspect every stone installed onto your wall and you will never find any two identical stones.

No matter how you look at the replicas they will look and feel like the real thing. All of the molds are designed to be almost identical to natural stones and the process in making them ensures that each one is applicable to the construct. Craftstoneoz.com.au stone feature structures are best suited for walls. Since they are lightweight and can be cut by construction equipment they are not suited for walkways, fountains or patios and others. They are best when designed for a wall, post, or other side structure that will not be walked upon. They can be placed outside or inside, making them the best pieces for building stone fences around your house, the BBQ area or if you want to create a unique, natural looking façade of your home or establishment.

The best thing is that all of these stones are lightweight and make for a very beautiful Stacked Stone Sydney has ever seen. They are compatible to be installed onto any kind of material, making any kind of wall or post suitable to have stones installed over them. This will give your home or establishment a fresh and yet comforting new look that brings the natural beauty of the world and nature right into your doorstep. Craftstoneoz.com.au offers a total of nineteen different textures and over eighty colors that will guarantee you get the best designed Stacked Stone Sydney has to offer.

The Makeup Organizer to get your Makeup Collection Organized and Looking Great

It is important to store your makeup properly so it does not expire and become unusable. The number one reason that makeup spoils is that we cannot find it when we need it. Storing your makeup in a makeup organizer means that you will be able to find the makeup when you need it saving you time and money.

Makeup is very expensive and if not used in time will expire and become unusable. The most common reason that makeup is not used is that you cannot find your makeup item when you need it so you simply forget about it. Organising your makeup so you can find it easily and when you need it will save you time and money. Here are some factors to consider when organising your makeup.

Makeup Organizer
The makeup organizer must be functional and atheistically pleasing. Makeup organizers made from clear acrylic will be the best units as you will be able to see your make items through the clear material. This means that you will be able to locate the makeup item you are after quickly and easily and save you hours searching for your makeup items.
Another important consideration in the functionality of a makeup organizer is its drawer size. It is important that the organizer has a different drawer sizes so that even your oversized makeup items can be stored. Larger drawers sizes also mean that your makeup items can be stored upright ensuring that they do no leak or spill.

Some makeup organizers will have flip top compartments at the top of the units. This enables you to locate and select your makeup items easily rather than using the drawers and is best suited for your makeup items that you use most often.

The size of your makeup collection will determine the number of drawers that you require for your makeup organizer. It is always a good idea to get the makeup organizer that is a little larger for your makeup collection as you will grow into the unit quickly.

Cost
Cost is a crucial factor in deciding which makeup organizer to purchase. There are a number of factors to consider when costing a makeup organizer. Generally the larger the unit the more expensive it will be. However, if you consider the cost of you makeup expiring before you get the chance to use it, the cost of a makeup organizer will pay for itself many times over.
The above are just some items to consider when choosing a makeup organizer. With this in mind it is important to get the best makeup organizer that suits your makeup collection.

The Makeup Box Shop’s Makeup Organizer is the best value in the market today. The Makeup Box Shop has Makeup Organizer for all your Makeup Storage needs.

Energy Bill Busting Tips

Are you dreading your next power bill? Starting to worry about how the increases in electricity costs are going to affect you. Well you’re not alone, so here is what you can do to reduce your fiscal stress and your bills.

Most of the time simple and easy common sense measures can cut hundreds of dollars fromyour bills just by following the following steps.

Top Ten Ways to Reduce Your Bills FOR FREE

1. Most people do not realise how much electricity a simple light bulb could be adding to the cost of their electricity bills. Turning off lights when you exit a room will make a significant difference.

2. Try to avoid using the clothes dryer, if the weather is bad purchase a clothes rank that you can use inside.

3. If going on holidays, turn off your electric hot water system at the meter box to avoid the system constantly heating up water when it’s not being used.

4. If you have a peak smart enabled air conditioner you can connect your air-conditioning unit to Tariff 33 – which provides a guaranteed 18 hours of electricity at tariff 33 rates. You may not be able to turn on the system on during peak times, but this could be a good compromise to still enjoy your heating/cooling system without costing the earth. Energex are currently offering $250 reward for split system (peak smart enabled) and $500 reward for ducted systems (peak smart enabled). To see whether your air conditioner is eligible go to the Energex website.

5. An old inefficient pool pump could be costing you up to $640 annually to run on tariff 11. By connect your pool pump to Tariff 33 (if possible) could save you hundreds off your bill. Energex are currently offering a $250 reward for connecting your pool pump to Tariff 33.

6. Turn off additional refrigerators. Have a good think about how much you really use the other fridge. If it’s only for the occasional party switch it off in-between time or if it is to store extra food think whether you really need to store this much as you could be paying a fortune for “just in case you need it”.

7. When running your air conditioner set the temperature to 23 degrees in Summer, as every degree below this will cost you 10% more in running costs (eg. Running at 20 degrees will cost you 30% more than running it at 23 degrees) Or to save more open windows for ventilation rather than turning on the air conditioner in summer time.

8. Use cold water to wash your clothes. With the many washing detergents available today that are made for cold water washing it makes sense to use these rather using your electricity to heat up the water.

9. Once the weather starts to cool down, remember to close any windows that have been left open, use a throw blanket to snuggle up and keep warm whilst watching TV and get out the ugg boots. . If you do turn on the heater, keep the heat in the room you’re in by closing the door.

10. Using low flow showerheads in your shower usually consume less energy and provide the same amount of comfort.

All these free suggestions will reduce your energy usage and your power bills but they do take self discipline and children are often the worst offenders in leaving everything turned on. So if you don’t want to comprise on life style you can still reduce your bills by purchasing energy saving products such as a solar hot water system, solar power system, led lighting, skylights and monitoring systems. If you’d like to find out more visit www.anyenergy.com.au