Page 79 - IRMSA Risk Report 2020

Given the South African context, this is an important insight; organisational learning from unexpected surprises (both
failures and successes) is essential for building organisational resilience. Political influence is undermining a healthy
organisational risk culture in several organisations.

STR ATEGY
EMO TIONS EMO TIONS

OUT C OME OUT C OME

OPER ATIONS REPUTATION INSIGHT POLITICS INSIGHT POLITICS

In general, how respondents felt stories to outcome stories. There were more stories
about which respondents felt “Negative” or “Highly Negative” than “Positive” or “Highly Positive” (these are indicated by
the colour assigned to the dots. Blue represents outcomes that were disastrous, orange dots represent outcomes
that were resounding successes). An openness to discuss things that might go wrong contributed to positive
experiences.

W E R E T H E S T O R I E S A B O U T A N T I C I P AT I O N , R E C O V E R Y,
O R A D A P TAT I O N ?

There was an even spread of stories that related to the need to anticipate and manage an incident, absorb and recover, or
restructure/adapt after an incident. Risk management would ideally anticipate threats and opportunities and then
manage these. Many of the stories related to incidents materialising. Whilst this may be expected when the nature of
stories is not prescribed – it does lend support for suggestions that risk and resilience be managed more closely together.

A B S O R B R E C O V E R

ANTICIP ATE M ANA GE RESTR UC TURE AD APT

WHO W AS C ONSIDERED RESPONSIBLE FOR M ANA GING
RISK IN THESE ST ORIES ?

Few respondents thought that managing risk was mostly the responsibility of the risk management function. The view of
Executives fell into two groups, those who thought managing risk is mainly the role of the Board and EXCO, and those who
thought it is everyone’s responsibility.

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