Empowering Change Champions

How do you empower your change champions?

Change management tips advice and support from BusinessRiskTV

In today’s fast-paced business world, change is the only constant. To stay competitive, organisations must be able to adapt and evolve quickly. But implementing change can be challenging, particularly if employees are resistant to it. This is where change champions come in. Change champions are individuals who are enthusiastic about change and who can motivate others to embrace it. In this article, we will explore how you can empower your change champions to be successful. Read on …

  1. Define the Role of Change Champions

Before you can empower your change champions, you need to define the role they will play. A change champion is someone who is responsible for driving change within the organisation. They are typically individuals who have a strong understanding of the benefits of the change and who can communicate those benefits to others. Change champions may also be responsible for training others on the new processes or technologies and for providing ongoing support to those who are struggling with the change.

It’s important to communicate the role of change champions clearly to everyone in the organisation. This will help to ensure that everyone understands the importance of the role and is aware of who the change champions are. It will also help to prevent confusion or misunderstandings about what the change champions are expected to do.

  1. Select the Right People

The success of your change initiative will depend largely on the people you select as change champions. You need to choose individuals who are enthusiastic about the change and who have the skills and knowledge necessary to drive it forward.

When selecting change champions, consider the following:

  • Enthusiasm: Look for individuals who are excited about the change and who are passionate about making it happen.
  • Knowledge: Your change champions should have a strong understanding of the change and its benefits. They should also have a good understanding of the organisation and its culture.
  • Communication skills: Your change champions will need to be able to communicate the benefits of the change to others. Look for individuals who are effective communicators and who can tailor their message to different audiences.
  • Influence: Your change champions should be able to influence others and persuade them to embrace the change. Look for individuals who have a good track record of influencing others.
  1. Provide Training and Support

Once you have selected your change champions, it’s important to provide them with the training and support they need to be successful. This may include training on the new processes or technologies, as well as training on how to be an effective change champion.

You may also want to provide your change champions with ongoing support, such as coaching or mentoring. This will help to ensure that they have the resources they need to be successful and that they are able to overcome any challenges they may face.

  1. Give Them Autonomy

Change champions need to have a certain degree of autonomy in order to be effective. They need to be able to make decisions and take action without having to consult with others every step of the way.

Giving your change champions autonomy will help to ensure that they are able to move the change initiative forward quickly and effectively. It will also help to build their confidence and increase their sense of ownership over the change.

  1. Recognise and Reward Them

Change champions are often working behind the scenes, and their contributions may not be immediately apparent to others in the organisation. It’s important to recognise and reward their efforts in order to keep them motivated and engaged.

Recognition and rewards don’t have to be big or expensive. They can be as simple as a thank-you note or a public acknowledgment of their efforts. The key is to make sure that your change champions know that their contributions are valued and appreciated.

  1. Communicate Progress

Effective communication is critical to the success of any change initiative. It’s important to keep everyone in the organisation informed about the progress of the change initiative, and this includes your change champions.

Regular communication with your change champions will help them stay informed about the status of the initiative and what they can do to help move it forward. It will also help to build their sense of ownership over the change and keep them motivated and engaged.

When communicating progress to your change champions, be sure to provide regular updates on the status of the initiative, any challenges that have been encountered, and what is being done to overcome those challenges. You should also celebrate any successes or milestones that have been achieved along the way.

  1. Encourage Collaboration

Change champions cannot do it alone. They need the support of others in the organisation to be successful. Encourage your change champions to collaborate with others and to build relationships with key stakeholders who can help to move the change initiative forward.

Collaboration can take many forms, such as working together on a project or sharing best practices and lessons learned. Encourage your change champions to be open to collaboration and to seek out opportunities to work with others.

  1. Continuously Evaluate and Improve

Finally, it’s important to continuously evaluate and improve your change champion program. Regularly assess the effectiveness of your change champions and make adjustments as needed. This may include providing additional training or support, adjusting the roles and responsibilities of your change champions, or selecting new change champions if necessary.

Continuous evaluation and improvement will help to ensure that your change champion program is effective and that your change initiative is successful.

Change champions are critical to the success of any change initiative. By defining the role of change champions, selecting the right people, providing training and support, giving them autonomy, recognising and rewarding them, communicating progress, encouraging collaboration, and continuously evaluating and improving, you can empower your change champions to be successful and drive change within your organisation.

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Businesses must be able to benefit from change. We explore the importance of adapting to change in a business. What are the benefits of change in the workplace. Changes in business can be necessary due to external and internal business risk factors. Not all change has to be major. Small incremental changes, combined, can be more effective and beneficial to your business than giant leaps. Constant major changes can also be counterproductive.

  • What are the negative effects of change in business?
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  • Learn how to embrace change and innovation in your company.

Today’s organisation’s must embrace change to survive and prosper. Ensure your business has a culture of looking at change as an opportunity to improve not something to fear or resist. Explain the importance of accepting change positively to your employees and customers.

  • Employees will develop new skills which will make them more valuable to you but also more valuable in the marketplace.
  • Employees will have new opportunities to be more creative in alignment with new business objectives so both can navigate choppy market conditions.
  • Employees will become more engaged with and committed to your business as their ideas will help grow the business and their role within the business.

Sell the benefits of a constantly changing business to your employees so they can help you not run away from your business.

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We look at why change is important. Explain the importance of accepting change positively. Not forgetting both the negative and positive effects of change in the workplace. Control the negative effects of change while enhancing the positive effects of change.

Embracing change means embracing failure. Not all changes will be successful. However if employees feel that their ideas and failure of ideas will be accepted without recrimination and even rewarded, you will find the gems in the rough that will boost your business development.

You need and plan and a process to filter the ideas. Your plan needs to engage all levels of your organisation not just the management team.

Embracing change will help your business find and develop new ideas and opportunities to grow faster. Change in business is inevitable so why not embrace it positively at all times to get the best out of it and mitigate anything bad about change. Embracing change is essential for the future success and growth of your business so adopting a culture and a habit of embracing change will supercharge your growth. Change will no longer threaten your survival in business.

What are the benefits to customers when a business changes?

Adapt your business and embrace change to benefit old and new customers. A culture of embracing change and a process for managing risks of change will lead to more satisfied customers as well as more engaged workforce.

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Much innovation is born out of necessity – for example during times of war. The COVID period maybe our time of war. It as certainly led to the worst economic period for several hundred years including from two world wars. What we can learn from Abandoned Engineering on Yesterday Channel is that our forefathers have invested incredible amounts of money and energy in ideas that failed for various different reasons. If you want your business to be resilience regardless of the economic environment you need to adopt the right risk management strategy to give your business the best chance of surviving in all economic weather. We may think we have been unlucky. However, all previous generations have had their challenges. Our challenge is to be innovative, creative and resilient no matter what is thrown at us.

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ERM Framework Implementation

Enterprise Risk Management (ERM) is the process of identifying, assessing, prioritising, and managing risks that could affect an organisation’s ability to achieve its objectives. In today’s fast-paced business environment, organizations face numerous risks, such as financial, operational, strategic, regulatory, reputational, and cybersecurity. The failure to manage these risks could lead to severe consequences, such as financial loss, legal liability, damage to reputation, and even business failure.

Therefore, it’s critical for organizations to implement a robust ERM framework to identify and mitigate risks that could potentially harm the organization. In this article, we will provide guidance on how organisations can implement an effective ERM framework to manage risks.

Establishing an ERM framework
The first step in implementing ERM is to establish a framework that outlines the organisation’s risk management policies, procedures, and practices. The framework should define the roles and responsibilities of the risk management team, establish risk assessment methodologies, and identify the key risk indicators (KRIs) that will be used to monitor risks.

The ERM framework should also identify the organisation’s risk appetite, which refers to the level of risk that the organisation is willing to accept in pursuit of its objectives. The risk appetite should be clearly defined and communicated to all stakeholders, including employees, investors, customers, and regulators.

The ERM framework should be aligned with the organisation’s strategic objectives, and the risk management team should work closely with the senior management team to ensure that risk management is integrated into the organisation’s decision-making process.

Conducting a risk assessment
The next step in implementing ERM is to conduct a risk assessment, which involves identifying, analysing, and evaluating risks that could potentially harm the organisation. The risk assessment should be based on a systematic and comprehensive approach that considers all the potential risks that the organisation faces.

The risk assessment should consider both internal and external factors that could affect the organisation’s ability to achieve its objectives. Internal factors include the organisation’s culture, structure, processes, and people, while external factors include economic, political, technological, and regulatory factors.

The risk assessment should also consider the likelihood and impact of each risk and prioritise them based on their significance. The risk assessment should be updated periodically to ensure that new risks are identified and managed.

Developing a risk management plan
Once the risks have been identified and prioritised, the next step is to develop a risk management plan that outlines the actions that will be taken to manage each risk. The risk management plan should consider the risk appetite of the organisation and the resources that are available to manage the risks.

The risk management plan should include specific measures to mitigate each risk, such as risk avoidance, risk reduction, risk transfer, and risk acceptance. Risk avoidance involves eliminating the risk altogether, while risk reduction involves implementing measures to reduce the likelihood or impact of the risk. Risk transfer involves transferring the risk to another party, such as an insurance company, while risk acceptance involves accepting the risk and managing it within the organisation’s risk appetite.

The risk management plan should also identify the stakeholders who will be responsible for managing each risk and the KRIs that will be used to monitor the risks. The risk management plan should be reviewed periodically to ensure that it remains effective and relevant.

Implementing risk management controls
The next step in implementing ERM is to implement risk management controls to manage the risks. Risk management controls are the policies, procedures, and practices that are implemented to manage the risks identified in the risk assessment.

Risk management controls should be designed to ensure that the organisation operates within its risk appetite and that the risks are managed effectively. Risk management controls should be integrated into the organisation’s processes and systems to ensure that they are followed consistently.

Monitoring and reporting on risks
The final step in implementing ERM is to monitor and report on risks. Monitoring involves tracking the effectiveness of the risk management controls and the KRIs that were identified in the risk management plan. The monitoring process should be designed to detect any changes in the risk environment and to ensure that the risk management controls remain effective.

Reporting involves communicating the results of the risk management process to stakeholders, such as the board of directors, senior management, investors, customers, and regulators. The reporting should provide an accurate and comprehensive view of the organisation’s risk exposure and the effectiveness of the risk management controls.

Reporting should also include any significant changes in the risk environment and any emerging risks that could potentially impact the organisation. Reporting should be timely, accurate, and relevant to ensure that stakeholders have the information they need to make informed decisions.

ERM is a critical process that organisations must implement to manage the risks they face. ERM involves identifying, assessing, prioritising, and managing risks that could potentially harm the organisation.

To implement an effective ERM framework, organizations must establish a framework that outlines the risk management policies, procedures, and practices. They must conduct a comprehensive risk assessment that considers all the potential risks that the organisation faces and prioritise them based on their significance.

They must develop a risk management plan that outlines the actions that will be taken to manage each risk and implement risk management controls to manage the risks. Finally, they must monitor and report on risks to ensure that the risk management process remains effective and relevant.

By implementing an effective ERM framework, organisations can mitigate the risks they face and achieve their objectives in a safe and sustainable manner. The ERM framework should be reviewed and updated periodically to ensure that it remains effective and relevant to the changing risk environment.

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The financial crisis in 2008 is the most recent near systemic collapse due to poor senior management team business decisions. The senior management teams were very good at creating extra value for themselves which will have long term benefits but their customers and shareholders in the financial crisis of 2008 have lost big time and many have yet to recover lost business value.

The sad fact is that shareholders or rather their representatives pension and investment fund managers have accepted and fuelled the poor decision making of senior management teams by being part of the problem. They have misrepresented big business owners long terms interests by allow senior management teams to get away with bad business decision making that only interests the senior management teams not shareholders or customers.

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Senior management teams are not taking enterprise risk management methodology onboard. Too often they pay lip service to the principles and practices of enterprise risk management.

  • Poor risk management cultures continue to dominate
  • Poor compliance standards are being accepted and even encouraged
  • Systemically poor risk management practices flourish on basis of a level playing field. They are doing it to make money so so should we

Enterprise risk management practices and processes need to be improved to prevent future catastrophic systemic collapses in business.

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Governments and self regulating bodies need to drive business improvements with carrots and sticks. Personal accountability at board level is necessary before good enterprise risk management practices will be embedded. If business leaders cannot see the wood from the trees than they need to be forced to open their eyes.

Short term greed is prevalent within our corporate structures. If our oversight by governments and professional bodies do not pull their their fingers out then economic and social catastrophes lie ahead in the next decade.

There is more to business than short term profit maximisation. However too many business leaders do not hold to this view. Their greed will take us closer to the cliff edge if they are not forcefully stopped.

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Do our business leaders and politicians really understand corporate risks and how this will impact on society?

Do they care? Too often the answer must be no. So they must be made to care by other people in our capitalist society. Capitalism is the best system on which to base our future but it should not be left to greedy people to rape the good that comes from capitalism.

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Build a more successful team with heightened business intelligence and risk knowledge. Pick up tips and advice from business owners leaders and risk management experts. Achieve more in business with existing assets.

Subscribe to BusinessRiskTV for free for a focal point for all your risk management training and development needs

Tailor your business risk management strategy and risk management decision making process with additional risk information and risk insight.

Focal Point Risk Management Consulting Training and Development
Subscribe to BusinessRiskTV for free for a focal point for all your risk management training and development needs

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BusinessRiskTV Focal Point for Risk Leadership Risk Management Development Training

Governance Risk Compliance GRC

Solving governance risk and compliance problems easier and cheaper with BusinessRiskTV

Develop your governance risk and compliance framework. Improve risk & compliance management. Make GRC decisions easier.

Management in corporate governance

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Enterprise risk management resources hub

Develop your governance risk and compliance framework. Improve your risk management process. Manage the impact of uncertainty on your business objectives better.

Think about enterprise risks differently. Take a more innovative approach to managing governance risk and compliance GRC decisions.

  • Control corporate threats more cost effectively
  • Seize new business development opportunities
  • Build your business resilience and achieve greater business success

Coordinate your enterprise risk management strategy for managing corporate governance risk management and business compliance issues. Develop a more integrated holistic framework and risk management process.

Subscribe to our enterprise risk management hub for free

Inform your business decision making process with a more risk based approach. Become more resilient to rapidly changing business and regulatory environment.

Governance Risk and Compliance GRC

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BusinessRiskTV Governance Risk and Compliance GRC

Managing Uncertainty Better

Understand your business risks to manage your key business risks better with BusinessRiskTV

How do leaders manage uncertainty in business better

Managing uncertainty is a daily business dilemma. Business leaders have internal and external risk factors driving uncertainty in business. Often this uncertainty can lead to poorer business performance or even catastrophic business failure.

We are developing a business risk management hub to help inform your leadership team. Reduce the impact of uncertainty on your business success.

  1. Various risk management identification tools and techniques will bring emerging risks to your attention
  2. Our Partners analysis country and industry risks
  3. Inform your attitude to risk and take a more balanced risk based approach to business management

Our free enterprise risk management resources provide a free risk insight to the risks that matter to your business prosperity and even survival. Develop your risk knowledge for free.

Join in our online risk management discussions workshops and training sessions to hone your risk management skills and ability.

Leaders can manage uncertainty in various ways. Some bury their head in sand. Others adopt a belts and braces approach to risk control incurring imbalanced costs to benefits.

We can not guarantee you greater business success. We can help inform your business decision making process. You will be more likely to make better business decisions.

When facing doubts or uncertainty many business leaders turn to their gut instinct. Rolling the dice may turn up the result you are aiming for. This may work for you. However better risk management information may enable you to choose a different path. Or it may over procrastination to drive forward growth with more confidence. Not making a decision can be as bad as instinctively shooting off blindly.

Dealing with uncertainty better can help you navigate around pitfalls your competitors fall into. Help guide your business to greater success with less uncertainty. Manage uncertainty more cost effectively.

  • Leaders can use risk management principles and practices to take the next step towards success with more confidence.
  • Leaders can prepare themselves and their business to face the uncertain business environment to control threats and seize new business opportunities.
  • Leaders must learn to manage uncertainty better but they need not do this alone

Free subscription to BusinessRiskTV can support your business improvement plans.

Subscribe to BusinessRiskTV for free for tips advice and help to manage uncertainty better

Meet the challenges to your business with more confidence. The world is facing growing uncertainty. Adjust your business strategy to account for the significant risks impacting on your business objectives.

Join more than 27000 people interested in better enterprise risk management.

  • Read business risk management articles relevant to your enterprise.
  • Watch videos to inform your business decisions making.
  • Pick up ideas from top business thought leaders to grow your business faster with less uncertainty.

Subscribe for free to receive alerts to latest risk management news opinions and reviews.

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BusinessRiskTV Managing Uncertainty Better

Join Global Network Free

Connect with business leaders and like-minded business innovators locally and globally with BusinessRiskTV

Are you a risk management practitioner?

Join global network of risk management professionals to help yourself and others manage enterprise risks better.

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Positive Business Developemtn and Growth

Business leaders collaborating online to grow business faster with more certainty

Could business leaders be more creative? Are we missing ways to grow a business faster? Are you prepared to share your resources for mutual growth and mutual benefit?

Do you recognise the amazing business opportunities there are out there? Could you seize the day with a little help from others?

Learn how BusinessRiskTV could help you and your business. Subscribe free to BusinessRiskTV to receive free email alerts to opportunities to grow your business faster.

Business Networking for Risk Management Practitioners

Informal professional networking service with BusinessRiskTV

Use your time more productively and invest it more profitably in your business

Business Breakfast Briefing Online BusinessRiskTV.com

Business Tips Advice Support

Share Business Data and Business Intelligence

Share business information. Exchange business ideas and tips. Collaborate on business development and growth projects.

Collaborate To Achieve More For Your Business

Business people and entrepreneurs meeting online to develop business relationships and to understand business risks better.

Search for risk management jobs or post risk management job vacancy free to fill risk management skills gap faster and cheaper

BusinessRiskTV Risk Management Global Network