*/By Rick Nason, PhD, CFA
Partner, RSD Solutions Inc/* If you try something new at your office then I bet you have heard the
expression, “but we’ve always done it this way”. Sometimes that is a
good thing, in that through trial and error – generally long ago – the
company determined that the optimal way to complete a process was the way
that it has “always been done”. Sometimes however the expression is a
real negative in that it implies that nobody has ever tried to do it a
different way, and thus no one knows whether there is a better way to do it
or not. In risk management there is a lot of stuff that we do simply because
“we’ve always done it that way”. What today’s risk manager needs to
determine is whether or not that is because it is a tried and true method, or
because of a lack of creativity and initiative to try something else.
Partner, RSD Solutions Inc/* If you try something new at your office then I bet you have heard the
expression, “but we’ve always done it this way”. Sometimes that is a
good thing, in that through trial and error – generally long ago – the
company determined that the optimal way to complete a process was the way
that it has “always been done”. Sometimes however the expression is a
real negative in that it implies that nobody has ever tried to do it a
different way, and thus no one knows whether there is a better way to do it
or not. In risk management there is a lot of stuff that we do simply because
“we’ve always done it that way”. What today’s risk manager needs to
determine is whether or not that is because it is a tried and true method, or
because of a lack of creativity and initiative to try something else.
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