David Doughty

I work with company directors to help them and their boards to be more effective. Entrepreneurial sales and marketing specialist with strong strategic, analytical and commercial skills. Extensive executive and non-executive experience in small and medium enterprises in private and public sectors. Board level consultant to multi-national organisations. Significant experience working with NHS Leadership Development programmes at national and regional and local level. Business Mentor MBTI Type ENTP Specialities: Sales and Marketing - particularly enterprise software. Social Media for personal and business branding Company start-ups - Fund-raising, Mergers & Acquisitions, Contracts. Product Development, Enterprise software development Leading, motivating and developing teams and individuals. Leadership Development, Talent Management, Succession Planning. Board Evaluation and Development Approved and Registered GrowthAccelerator Coach Certified Mentor at EQMentor Inc.

May 222020
 

How directors and boards can take great strides in their understanding of Strategic Marketing.

“I just wanted to express my appreciation for your course today which was extensive, authoritative and engaging – thank you.”

Attendees on this interactive video course will be more effective in engaging with board level commercial teams over matters of marketing strategy – they will be able to more easily:

  • Understand the relationship between strategic marketing and company vision and mission;
  • Obtain clarity on strategy selection from both internal and external perspectives;
  • Provide constructive challenges to the commercial team;
  • Identify potential problems and corresponding solutions.

If you have ever wondered what strategic marketing is, and how it relates to the businesses with which you work; or if you have sat in board meetings wondering what on earth the marketing director was talking about, this course will be a great start in building your marketing knowledge and increasing your confidence in the subject.

This half-day interactive video course is aimed at Board members – both Executive and Non-Executive Directors who are not marketing specialists and covers essential knowledge about strategic marketing to enable them to ask the Marketing Director the right questions and, most importantly, understand the answers they are given.

Who should attend?
Individuals who are currently executive or non-executive directors; those seeking appointment as an executive or non-executive director and those looking to progress to a marketing director role.

Course Leader: Duncan Hall FCIM

The course is delivered by Duncan Hall, an energetic business leader, with significant experience in sales, marketing, business, product, and process development gained in both start-up and corporate environments.

Duncan is also a certified trainer/facilitator/coach of corporate continuous process improvement and customer experience programs.
See his LinkedIn profile here: (https://www.linkedin.com/in/jduncanhall/)

Key Details
Duration: 1 day
Location:

Zoom
Video Conference

Price
£250.00 (ex VAT)

Payment with Booking Price

£220.00 (ex VAT)

Partner Price*
£195.00 (ex VAT)

Book Now
To see course dates and to book your place now follow this link:

Course Registration
The fee includes lunch, refreshments and a copy of the course handbook

Attendance counts as 6 CPD hours of structured learning


*Discounts on Excellencia course fees are available for:

May 222020
 

Everything directors and boards need to know about sales but were afraid to ask.

“John delivered a thought provoking and insightful workshop. Ideal for Non-Executive Directors
aspiring to fully understand sales and how to create strategic commercial value at board level.”
Alastair McIvor Director of AMT Ltd

This interactive video course helps you to be a more effective when working with a commercial team at board level or on a day to day basis. Participants will gain the fundamental knowledge / terminology to interact with the commercial teams while creating/ aligning a ‘Commercial Strategy’ that can then be performance managed to deliver on the company’s overall goals. The course is split into two parts with section one providing insights to the commercial working on a day to day basis with time to discuss how this can work with our business. The second half dives in deeper with the ‘Why’ we will win with the commercial strategy, ‘How’ to implement this and ‘Tools and Metrics’ to measure success

If you have ever wondered what strategic sales is, and how it relates to the businesses with which you work; or if you have sat in board meetings wondering what on earth the sales director was talking about, this course will be a great start in building your sales knowledge and increasing your confidence in the subject.

This half-day interactive video course is aimed at Board members – both Executive and Non-Executive Directors who are not sales specialists and covers essential knowledge about strategic sales to enable them to ask the Sales Director the right questions and, most importantly, understand the answers they are given.

Who should attend?
Individuals who are currently executive or non-executive directors; those seeking appointment as an executive or non-executive director and those looking to progress to a marketing director role.

Course Leader: John Hanson

The course is delivered by John Hanson, a highly engaged sales and results focused Business Leader / Sales Director, with strong execution skills and proven successes in Mature & Emerging Markets throughout EMEA. A breadth of knowledge of the FMCG and Medical Device categories and a core competence of returning declining businesses back to profitable and sustainable growth

See his LinkedIn profile here: (https://www.linkedin.com/in/john-hanson-020b408/)

Key Details
Duration: 1 day
Location:

Zoom
Video Conference

Price
£250.00 (ex VAT)

Payment with Booking Price

£220.00 (ex VAT)

Partner Price*
£195.00 (ex VAT)

Book Now
To see course dates and to book your place now follow this link:

Course Registration
The fee includes lunch, refreshments and a copy of the course handbook

Attendance counts as 6 CPD hours of structured learning


*Discounts on Excellencia course fees are available for:

May 132020
 

The Effective Non-Executive Director course is an interactive one-day video course designed for existing Non-Executive Directors who want to further develop their skills or for those who have just embarked on their first non-executive position and are keen to prepare themselves for a non-executive portfolio career.

This practical, comprehensive and highly interactive course is delivered by globally recognised Corporate Governance expert; David Doughty, who currently holds or has held Chair and Non-Executive Director positions on private, public and not-for-profit sector boards in the UK, US and EU.

A Chartered Director with over 30 years experience as a board member, David will share his insights with you to help you with improving board effectiveness and increasing your contribution to the board.

The effective Non-Executive Director

The course covers essential knowledge about roles, responsibilities, strategy and corporate governance that are key foundations for a Non-Executive board role. It also considers up to date thinking on corporate governance and the responsibilities of owners, the board and employees.

Attendance counts as 6 CPD hours of structured learning.

The effective Non-Executive Director course helps you to be an effective non-executive director. It instils a real sense of what is expected of NEDs, and how you can meet the challenge.

This course identifies the various ways and circumstances in which non-executive directors can make an effective contribution to a board’s work.

Who should attend?

Individuals who are serving or newly appointed   non-executive directors.

What to expect?

  • Clarifies how and why non-executive directors can strengthen a board
  • Provides practical guidance on how to be effective as a non-executive director

Course objectives
Participation on this course will provide you with the knowledge to:

  • Clarify the board’s role, purpose and key tasks
  • Appreciate the contributions that non-executive directors can make to the board in different types of company and situations
  • Recognise the qualities and experience needed to fulfil a non-executive director appointment

Course Leader: David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private, public and not-for-profit sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here: 

Key Details
Duration: 1 day
Location:
Zoom
Video ConferencePrice
£350.00 (ex VAT)
Payment with Booking Price
£320.00 (ex VAT)
Partner Discount Price
£295.00 (ex VAT)*

Book Now

To see course dates and to book your place now follow this link:
Course Registration
The fee includes lunch, refreshments and a copy of the course handbook

Courses can be delivered ‘in-house’ to a group of Non-Executive Directors or Trustees – to find out more contact courses@excellencia.co.uk or call 01437 731 161

*Discounts on Excellencia course fees are available for:

Apr 282020
 

The need to identify, measure and mitigate business continuity risks has never been more relevant.

Strategic risks stop businesses achieving their strategic goals – they are the big risks, usually coming from outside the business, that are difficult to anticipate and mitigate for.

Key among them is the risk to business continuity: the ability of the business to continue to deliver its goods or services when the fabric of the business – its people or assets – have been affected by a major external event.

The current coronavirus pandemic is clearly one such major event which has brought into sharp focus the business continuity planning of those businesses which are able to continue to operate during the lockdown period.

Business continuity plans are commonplace in most businesses, and usually involve the technical aspects of running a business, such as making sure that the IT systems and stored data are available and accessible remotely. There are, however, some more fundamental risks to business continuity which are often overlooked until the worst happens.

The biggest risk to any business facing an external threat to its operations is financial – the business simply running out of cash while its operations are disrupted. To mitigate this risk, business need sufficient reserves to weather the storm.

Many businesses (and most charities) in the UK live a hand-to-mouth existence with very low levels of cash reserves – usually no more than would be needed to wind down the company, pay off debts and pay redundancy costs, and in some cases not even that.

When something like a pandemic-triggered lockdown occurs, the immediate plan is for as many employees as possible to work from home. But even large multinational companies have found that this is not as simple as it sounds, with emergency investment required in additional hardware such as laptops and increased bandwidth and server capacity.

The first mitigation for business continuity risk is to ensure that there is a “rainy day” fund in your reserves to cover the additional costs the business will face in order to stay operational.

The second mitigation factor is insurance. Make sure you know exactly what is covered, though – many businesses have discovered that they are not insured for the effects of a global pandemic. It may also take time for insurers to pay out so you will need to go back to your cash reserves or make sure you have sufficient borrowing facilities such as an overdraft in place.

Thirdly, you will need to look at your corporate governance arrangements, particularly your articles of association, to ensure that you are legally able to hold board and shareholder meetings electronically. You may need to hold more frequent, shorter virtual board meetings and they will still need to be accurately minuted to record any decisions taken during the crisis period.

The fourth aspect of managing business continuity risk is communication – make sure your staff, suppliers and most importantly your customers are aware of any new arrangements which may apply, even if it is just to tell them that you are still open for business. The ideal is that any changes which are made to the business as a result of a major external event should appear seamless to the customer or end-user. Where this is not possible, communication is vital to minimise the impact to the business.

The increasing reliance on IT systems, software and digital data has meant that most business continuity plans are the responsibility of the IT department, and will in general have little or no visibility at board level – other than to clarify if there is a business continuity plan in place, and whether it has been tested recently.

In fact, business continuity is highly significant in terms of its impact on the delivery of the business strategy and should be considered in detail by the board on a regular basis.

As will be shown by the current crisis, those businesses which have been able to carry on by finding innovative solutions to the delivery of their goods or services are much more likely to be successful post-lockdown – demonstrating the value of looking seriously at the risks facing the business and, where possible, turning them into opportunities and sources of competitive advantage.

First published in Business Reporter https://business-reporter.foleon.com/business-reporter/risk-management-insurance/the-risks-of-carrying-on-regardless/ 23 April 2020

Apr 022020
 

Find out how you can obtain a Non-Executive Director position by booking a place on this interactive 1-day video course.

non-executive director“This course is a must for any aspiring NED and even established NED’s as a refresher. The content and its delivery were well paced, informative and challenging in equal measures, led by a seasoned expert who’s capabilities provide a wealth of knowledge to be drawn upon. Incredible value for money and should be part of a suite of courses leading to a more formal qualification for aspiring NED’s. 100% recommended, you will not be disappointed.”

Jon Cross, Managing Director at Essenjay Associates Ltd

The How to become a Non-Executive Director course helps you to plan and prepare for your first NED position. It instils a real sense of what is expected of NEDs, and how you can meet the challenge.

This one-day interactive course is aimed at aspiring NEDs and covers essential knowledge about roles, responsibilities, strategy and corporate governance that are key foundations for a Non-Executive board role. It also considers up to date thinking on corporate governance and the responsibilities of owners, the board and employees.

This is followed by practical sessions on identifying NED opportunities, the process of obtaining a first appointment and performing due diligence before any position is accepted. There is emphasis on the importance of presenting your experiences with clarity and relevance.

This course identifies the various ways and circumstances in which non-executive directors can make an effective contribution to a board’s work. It also examines methods for their selection and reviews their motivation, induction and reward.

Who should attend?
Individuals who are currently a non-executive director; those seeking appointment as a non-executive director and those looking to appoint a non-executive director.

What to expect?

  • Clarifies how and why non-executive directors can strengthen a board
  • Provides practical guidance on how best to secure an appointment as a non-executive director

Course objectives
Participation on this course will provide you with the knowledge to:

  • Clarify the board’s role, purpose and key tasks
  • Appreciate the contributions that non-executive directors can make to the board in different types of company and situations
  • Recognise the qualities and experience needed to fulfil a non-executive director appointment
  • Appreciate appropriate methods for finding, selecting, appointing and rewarding non-executive directors
  • Understand the preparation required to interview for or be interviewed for the post of non-executive director

Course Leader: David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private and public sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here: (https://uk.linkedin.com/in/daviddoughty)

Key Details
Duration: 1 day
Location:

Zoom
Video Conference

Price
£350.00 (ex VAT)

Payment with Booking Price

£320.00 (ex VAT)

Partner Price*
£295.00 (ex VAT)

Book Now
To see course dates and to book your place now follow this link:

Course Registration
The fee includes lunch, refreshments and a copy of the course handbook

Attendance counts as 6 CPD hours of structured learning


*Discounts on Excellencia course fees are available for:

Feb 272020
 

Find out how you can obtain a Non-Executive Director position by booking a place on this interactive 1-day course.

non-executive director“A well structured and presented introduction to the responsibilities, challenges and attributes required of being a NED. It was thought-provoking. I have referred back to my copious comments in the comprehensive slide hand outs many times already”

Simon C Jones, Interim Transformation Leader and Hidden Value Discoverer

The How to become a Non-Executive Director course helps you to plan and prepare for your first NED position. It instils a real sense of what is expected of NEDs, and how you can meet the challenge.

This one-day interactive course is aimed at aspiring NEDs and covers essential knowledge about roles, responsibilities, strategy and corporate governance that are key foundations for a Non-Executive board role. It also considers up to date thinking on corporate governance and the responsibilities of owners, the board and employees.

This is followed by practical sessions on identifying NED opportunities, the process of obtaining a first appointment and performing due diligence before any position is accepted. There is emphasis on the importance of presenting your experiences with clarity and relevance.

This course identifies the various ways and circumstances in which non-executive directors can make an effective contribution to a board’s work. It also examines methods for their selection and reviews their motivation, induction and reward.

Who should attend?
Individuals who are currently a non-executive director; those seeking appointment as a non-executive director and those looking to appoint a non-executive director.

What to expect?

  • Clarifies how and why non-executive directors can strengthen a board
  • Provides practical guidance on how best to secure an appointment as a non-executive director

Course objectives
Participation on this course will provide you with the knowledge to:

  • Clarify the board’s role, purpose and key tasks
  • Appreciate the contributions that non-executive directors can make to the board in different types of company and situations
  • Recognise the qualities and experience needed to fulfil a non-executive director appointment
  • Appreciate appropriate methods for finding, selecting, appointing and rewarding non-executive directors
  • Understand the preparation required to interview for or be interviewed for the post of non-executive director

Course Leader: David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private and public sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here: (https://uk.linkedin.com/in/daviddoughty)

Key Details
Duration: 1 day
Location:

The McLaren Building
46 The Priory Queensway
Birmingham B4 7LR

Price
£350.00 (ex VAT)

Payment with Booking Price

£320.00 (ex VAT)

Partner Price*
£295.00 (ex VAT)

Book Now
To see course dates and to book your place now follow this link:

Course Registration
The fee includes lunch, refreshments and a copy of the course handbook

Attendance counts as 6 CPD hours of structured learning


*Discounts on Excellencia course fees are available for:

Feb 102020
 

The Effective Non-Executive Director course is an interactive one-day course designed for existing Non-Executive Directors who want to further develop their skills or for those who have just embarked on their first non-executive position and are keen to prepare themselves for a non-executive portfolio career.

This practical, comprehensive and highly interactive course is delivered by globally recognised Corporate Governance expert; David Doughty, who currently holds or has held Chair and Non-Executive Director positions on private, public and not-for-profit sector boards in the UK, US and EU.

A Chartered Director with over 30 years experience as a board member, David will share his insights with you to help you with improving board effectiveness and increasing your contribution to the board.

The effective Non-Executive Director

The course covers essential knowledge about roles, responsibilities, strategy and corporate governance that are key foundations for a Non-Executive board role. It also considers up to date thinking on corporate governance and the responsibilities of owners, the board and employees.

Attendance counts as 6 CPD hours of structured learning.

The effective Non-Executive Director course helps you to be an effective non-executive director. It instils a real sense of what is expected of NEDs, and how you can meet the challenge.

This course identifies the various ways and circumstances in which non-executive directors can make an effective contribution to a board’s work.

Who should attend?

Individuals who are serving or newly appointed   non-executive directors.

What to expect?

  • Clarifies how and why non-executive directors can strengthen a board
  • Provides practical guidance on how to be effective as a non-executive director

Course objectives
Participation on this course will provide you with the knowledge to:

  • Clarify the board’s role, purpose and key tasks
  • Appreciate the contributions that non-executive directors can make to the board in different types of company and situations
  • Recognise the qualities and experience needed to fulfil a non-executive director appointment

Course Leader: David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private, public and not-for-profit sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here: 

Key Details
Duration: 1 day
Location:
Kassam Stadium
Littlemore
Oxford OX4 4XP
Price
£350.00 (ex VAT)
Payment with Booking Price
£320.00 (ex VAT)
Partner Discount Price
£295.00 (ex VAT)*

Book Now

To see course dates and to book your place now follow this link:
Course Registration
The fee includes lunch, refreshments and a copy of the course handbook
Courses can be delivered ‘in-house’ to a group of Non-Executive Directors or Trustees – to find out more contact courses@excellencia.co.uk or call 01437 731 161

*Discounts on Excellencia course fees are available for:

Dec 082019
 

Find out how you can obtain a Non-Executive Director position by booking a place on this interactive 1-day course.

non-executive director“A well structured and presented introduction to the responsibilities, challenges and attributes required of being a NED. It was thought-provoking. I have referred back to my copious comments in the comprehensive slide hand outs many times already”

Simon C Jones, Interim Transformation Leader and Hidden Value Discoverer

The How to become a Non-Executive Director course helps you to plan and prepare for your first NED position. It instils a real sense of what is expected of NEDs, and how you can meet the challenge.

This one-day interactive course is aimed at aspiring NEDs and covers essential knowledge about roles, responsibilities, strategy and corporate governance that are key foundations for a Non-Executive board role. It also considers up to date thinking on corporate governance and the responsibilities of owners, the board and employees.

This is followed by practical sessions on identifying NED opportunities, the process of obtaining a first appointment and performing due diligence before any position is accepted. There is emphasis on the importance of presenting your experiences with clarity and relevance.

This course identifies the various ways and circumstances in which non-executive directors can make an effective contribution to a board’s work. It also examines methods for their selection and reviews their motivation, induction and reward.

Who should attend?
Individuals who are currently a non-executive director; those seeking appointment as a non-executive director and those looking to appoint a non-executive director.

What to expect?

  • Clarifies how and why non-executive directors can strengthen a board
  • Provides practical guidance on how best to secure an appointment as a non-executive director

Course objectives
Participation on this course will provide you with the knowledge to:

  • Clarify the board’s role, purpose and key tasks
  • Appreciate the contributions that non-executive directors can make to the board in different types of company and situations
  • Recognise the qualities and experience needed to fulfil a non-executive director appointment
  • Appreciate appropriate methods for finding, selecting, appointing and rewarding non-executive directors
  • Understand the preparation required to interview for or be interviewed for the post of non-executive director

Course Leader: David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private and public sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here: (https://uk.linkedin.com/in/daviddoughty)

Key Details
Duration: 1 day
Location:

Clerkenwell House
67 Clerkenwell Road
London EC1R 5BL

Price
£350.00 (ex VAT)

Payment with Booking Price

£320.00 (ex VAT)

Partner Price*
£295.00 (ex VAT)

Book Now
To see course dates and to book your place now follow this link:

Course Registration
The fee includes lunch, refreshments and a copy of the course handbook

Attendance counts as 6 CPD hours of structured learning


*Discounts on Excellencia course fees are available for:

Nov 282019
 

Neil Woodford – cautious, conservative, contrarian, high-risk?

These words could all have been used to describe Woodford’s investment strategy at various times during his slow rise and sudden downfall – and they all give an indication of the degree of risk he was taking with his clients’ money.

It is well established in the investment industry that risk and reward tend to go hand in hand – the greater the risk, the greater the potential return on the investment – that is the positive upside to risk – the downside is that the greater the risk the more likelihood there is that investors may lose some or all of their investment.

Risks then are both a source of competitive advantage and a potential threat to success – they can make or break an organisation.

Did Thomas Cook stop taking risks or did they just stop managing their strategic risks?

Not only is it important to recognise that risk-taking is an essential part of building a successful business it is also important that everyone involved in running a business understands what risks are being taken, how they can avoid the downsides and more importantly, how they can exploit the upsides.

Successful enterprises, globally, are realising that risks are something to incorporate into their strategy, not as something to avoid – they recognise the dangers of standing still and avoiding risks and they have made the cultural shift needed to change their business leaders’ approach to taking more risks and reaping the rewards from the greater opportunities available for bolder organisations.

A good place to start with identifying risks is the Business Plan or overall strategy document for the business – a well written plan should be based on an analysis of the strengths and weaknesses of the organisation and the opportunities available to it and any potential threats to its success.

Although when people think of risks they usually focus on the negative aspects – what can go wrong, it is also useful to think of the ‘positive’ risks presented by opportunities.

Once risks have been identified they can then be prioritised to enable the Board to satisfy itself that the organisation’s risks are being managed effectively with regular reviews and discussion to ensure that the most likely or highest impact risks are kept in sight – there will still be shocks and crises for the Board to contend with but an organisation that has identified and mitigated its key strategic risks will be much better prepared to face them than competitors who have not.

No alt text provided for this image

Recent changes in company law and Corporate Governance, in particular the UK Corporate Governance Code, have emphasised the need for companies to have better strategic risk management and leadership of change, to re calibrate their tolerance for well-managed and calculated risk-taking, to improve their capabilities in managing risk, to have better horizon scanning and the ability to address uncertainties and emerging risks, to place more emphasis on culture and behaviour and for their boards to focus on the things that matter with clear ownership/accountability for risks.

The culture and behaviour of the CEO and the Board with regards to risk is key to ensuring effective decision-making, which drives the success of the business.

There is a balance to be struck between taking measured strategic risks involving innovation and the reduction or elimination of undesired negative risks – a manufacturing plant cannot totally eliminate the production of faulty components but it can ensure that there is a relatively small number of them and they do not get as far as the final assembly line.

In addition to prioritising strategic risks then, we can introduce the concept of risk tolerance where the Board clearly defines and articulates the acceptable levels of risk that it will tolerate.This is analogous to the aphorism “not putting all your eggs into one basket” – a prudent Bank, for example, would not attempt to transfer all its customers from one software platform to another over a weekend – instead it would use pilot phases using batches of customers to ensure all wrinkles were ironed out before undertaking a mass migration of customer accounts.

Oil exploration is inherently a risky business, but it was the mismanagement of the reputation risk by CEO Tony Hayward which caused the most damage to the organisation rather than the environmental risk.

Operational risks, which usually arise from internal causes or known external factors, can be mitigated by using a rules-based treatment which ensures that appropriate policies, procedures and employee training are in place.

The speed with which crises go viral on social media means that it is reputation risk which is far more likely to impact on an organisation’s strategy than financial or environmental risks by themselves.The U.S. investigation commission attributed the Gulf of Mexico disaster to BP’s management failures that crippled “the ability of individuals involved to identify the risks they faced and to properly evaluate, communicate, and address them.”

This evaluation of the cause of the failure could equally well be applied to the failure of many financial institutions during the 2007–2008 credit crisis or Volkswagen and the ‘Diesel Gate’ scandal or indeed any of the high-profile corporate collapses that have occurred in the last few years.

Traditional approaches to risk management use formulaic analysis tools and rules-based systems to produce a risk-register and assurance framework where the Board’s discussion focus is too often on the numbers created by the estimates of likelihood and impact rather than the nature of the risks themselves.

Operational risks, which usually arise from internal causes or known external factors, can be mitigated by using a rules-based treatment which ensures that appropriate policies, procedures and employee training are in place.

Strategic risks on the other hand are much more likely to involve unknown or unknowable factors and therefore require a different approach.

We also see this in the financial sector with regulation and compliance, which is very similar to the management of strategic risks. Going from the familiar to the unimaginable is easier than just thinking of catastrophic outcomes as abstract risks.

These new ways of categorising risk enable Boards to decide which risks can be managed through a rules-based model and which require alternative approaches.

Key to successfully managing existential strategic risks is the ability of the Board, its executives and non-executives to engage in open, constructive, discussions about managing the risks relating to strategic choices and embedding the treatment of those risks in their strategy formulation and implementation processes.

Most importantly for organisations this includes identifying and preparing for non-preventable risks that arise externally to their strategy and operations such as significant swings in global markets, trade wars and global conflicts.

Taking Donald Rumsfeld’s Known knowns, Known unknowns and Unknown unknowns we can map those to the three main types of risks that organisations face, preventable risks, strategic risks and non-preventable risks.

Preventable risks are the internal “never events” that are controllable and should not be tolerated. A risk-based approach to running a business involves having an open management culture with clear recognition of the risks, mitigations and assurances needed to enable all employees to play their part in the company’s success.

There is also a need for Boards to learn from their mistakes – the Banks that failed in the 2007-2008 financial had relegated risk management to a compliance function with their risk managers having limited access to senior management and the Board, whereas the Banks that survived such as Goldman Sachs and JPMorgan Chase had strong internal risk-management functions and leadership teams that understood and managed the companies’ multiple risk exposures.

The future of risk and risk management will be a continuation of the trend to make consideration of strategic risk a key element in the development of corporate strategy – recognising its importance as a source of competitive advantage and a means to avoid the dramatic corporate failures that seem to be occurring with increasing regularity.

First published in Business Reporter Online • November 2019

https://business-reporter.foleon.com/business-reporter-2019/risk-management/whats-the-risk-an-inconvenient-necessity-or-a-source-of-competitive-advantage/

Nov 142019
 

Find out how you can obtain a Non-Executive Director position by booking a place on this interactive 1-day course.

non-executive director“A well structured and presented introduction to the responsibilities, challenges and attributes required of being a NED. It was thought-provoking. I have referred back to my copious comments in the comprehensive slide hand outs many times already”

Simon C Jones, Interim Transformation Leader and Hidden Value Discoverer

The How to become a Non-Executive Director course helps you to plan and prepare for your first NED position. It instils a real sense of what is expected of NEDs, and how you can meet the challenge.

This one-day interactive course is aimed at aspiring NEDs and covers essential knowledge about roles, responsibilities, strategy and corporate governance that are key foundations for a Non-Executive board role. It also considers up to date thinking on corporate governance and the responsibilities of owners, the board and employees.

This is followed by practical sessions on identifying NED opportunities, the process of obtaining a first appointment and performing due diligence before any position is accepted. There is emphasis on the importance of presenting your experiences with clarity and relevance.

This course identifies the various ways and circumstances in which non-executive directors can make an effective contribution to a board’s work. It also examines methods for their selection and reviews their motivation, induction and reward.

Who should attend?
Individuals who are currently a non-executive director; those seeking appointment as a non-executive director and those looking to appoint a non-executive director.

What to expect?

  • Clarifies how and why non-executive directors can strengthen a board
  • Provides practical guidance on how best to secure an appointment as a non-executive director

Course objectives
Participation on this course will provide you with the knowledge to:

  • Clarify the board’s role, purpose and key tasks
  • Appreciate the contributions that non-executive directors can make to the board in different types of company and situations
  • Recognise the qualities and experience needed to fulfil a non-executive director appointment
  • Appreciate appropriate methods for finding, selecting, appointing and rewarding non-executive directors
  • Understand the preparation required to interview for or be interviewed for the post of non-executive director

Course Leader: David Doughty CDir FIoD

David Doughty - Chartered DirectorThe course is delivered by David Doughty, a Chartered Director and highly experienced Non-Executive, Chief Executive, Chair, Entrepreneur and Business Mentor. David has extensive executive and non-executive experience in small and medium enterprises in private and public sectors. He is also a board level consultant to multi-national organisations and a Chartered Director Ambassador for the Institute of Directors. See his LinkedIn profile here: (https://uk.linkedin.com/in/daviddoughty)

Key Details
Duration: 1 day
Location:

Clerkenwell House
67 Clerkenwell Road
London EC1R 5BL

Price
£350.00 (ex VAT)

Payment with Booking Price

£320.00 (ex VAT)

Partner Price*
£295.00 (ex VAT)

Book Now
To see course dates and to book your place now follow this link:

Course Registration
The fee includes lunch, refreshments and a copy of the course handbook

Attendance counts as 6 CPD hours of structured learning


*Discounts on Excellencia course fees are available for: