Like many businesses, 2021 presented it’s own set of challenges for Allmode, but thankfully we navigated through the year with plenty of success and many happy partners.
Risk management is a challenging business environment in the best of times and when we are hit with a novel risk, we have to re-write the playbook; literally.
No matter how good their risk management systems are, companies can’t plan for everything. Some risks are outside people’s realm of experience or so remote no one could have imagined them. Some result from a perfect storm of coinciding breakdowns, and some materialize very rapidly and on an enormous scale.
Allmode’s consistent strength throughout over a decade of pioneering risk management practice, has been to provide our clients with the solutions which directly overcome the novel risks and place them in a stronger position, future-proofing their operations and assets.
The clearest signal that a novel risk is emerging is anomalies—things that just don’t make sense. This sounds obvious, but most anomalies are difficult for people to recognize or process.
The Allmode team have successfully acted as the “Chief Worry Officer”, a role for quickly recognising the emergence of any novel risk and mobilising a process for addressing it in real time. That’s what we do; the team deciphers the situation, identifies the most important issues, and establishes priorities among the client’s multiple, and sometimes competing, stakeholders and interests.
Novel risks—those that emerge completely out of the blue—will arise either from complex combinations of seemingly routine events or from unprecedentedly massive events. Companies need to detect them and then activate a response that differs from standard approaches to managing routine risks. That response must be rapid, improvisational, iterative, and humble, since not every action taken will work as intended.
A key aim through 2021 was to help clients prepare, mitigate and achieve a level of future-proofing and this goal remains firmly in place as we navigate into 2022. Whilst 2021 has been extremely successful in delivering those goals, 2022 will see a continued supply of those solutions to the lucky clients who employ Allmode as their Chief Worry Officers!