2. The Risk Management Network Flashcards
Risk Management Involvement throughout the organization - 3 areas
C. O. S
Compliance - Legal
Operational - Safety
Strategic - Opportunity / Threats
Risk Management Network - Additional Resources may be required when:
- outside or objective viewpoint is required
- Time is of the essence
- An outside expert is more cost-effective
- Upper management requests it
- A limited-term activity or special project arises
What are we looking for with Members of the Network
1. Formal groups vs. informal connections
- *2. Expertise including, but not limited to:**
a. Risk management
b. Health, safety and environmental
c. Human resources
d. Functional areas of the organization
e. Legal
f. Agents, brokers, carriers, captive managers
g. RMIS providers
h. Actuaries
How to identify the best fit in that person for Network Members
- Background
- Roles and responsibilities
- Soft skills, including working effectively with others
- Time availability
Four Steps of the Communication Process
- *1. Encoding/Creation**
- *2. Transmission**
- *3. Reception/Decoding**
- *4. Feedback/Response**
Communication Process -Step 1: Encoding/Creation -2 things Before Creating a message
- Should this Message be delivered?
- Content of the message:
• What information and when
• How much detail is needed?
• Does the receiver have enough context to understand the message?
Communication Process - Step 2: Transmission - What do we think about when deciding on Transmitting this
- Time frame for transmitting the message?
- Appropriate medium to convey the information? Face‐to‐face, phone call, email, formal written document, etc.
Remember Written communication creates permanent means of sharing information
Communication Process - Step 3: Reception/Decoding - What 3 things happen when the message is delivered
- Interpretation
- Response.
- The expectation is that the message was communicated efficiently and effectively.
Communication Process - 4. Feedback/Response -
- Message goes back to sender
- Action taken
- Question or request for clarification
Types of Communication Channels
- LINEAR - one way
- INTERACTIONAL - two linear stacked
- TRANSACTIONAL - roles interchangeable
Communication channels - Linear Channels
Linear channels – one‐way communication where there is no feedback expected from the receiver; (typically used for mass communication, harder to gauge effectiveness)
• Examples:
directions to subordinates,
advertisements,
signage
Communication channels - Interactional Channels
two linear models stacked on top of one another, where communication includes feedback;
email,
texting
Communication Channels - Transactional Channels
phone call,
face‐to‐face interaction or
video chat
• Examples: advice, problem‐solving discussions or activity coordination
Communication Networks
Chain Network - individuals linked through common activity or purpose
Y Network – individuals linked through a hierarchy or span of control
Circle Network -– peer communication
Wheel Network - one individual who receives and disseminates information to others, such as in a crisis communication network with one spokesperson
All‐channel network – network of linked networks
What 2 types of critical business or critical processes
1. Mission critical - ESSENTIAL – factors such as equipment, processes, personnel, utilities that are essential to the survival of business operations; failure of one of these can seriously damage business operations
Examples: online banking, electricity, computer systems
2. Business critical - INCONVENIENT– factors that make operating difficult or inconvenient and could create serious financial or legal consequences
Examples: email systems, automation processes, computer programs
