Post by Leslie on Aug 18, 2021 3:41:14 GMT
C. Post: On the Discussion Board, please respond to these questions (and we will discuss in class):
1. Is Risk ever acceptable? If so, how much risk is acceptable?
Some level of risk is acceptable. As a company grows and expands and as they take their cues about the products and services it provides there has to a mindset toward growth and change that keeps the company current and relevant in its market. Absent risk a company may appear to be stagnant, not growing, and lacking innovation.
2. How would you assess your program/company’s overall risk appetite?
On the programmatic side, it appears we operate very conservatively. As a Program Director, I take great care to identify potential risks particularly within the domain of internal operations. The type of normal within the day-to-day business activities that could trigger a risk event could spark easily if a constant check of the pulse of the community isn’t conducted regularly and on several different levels by different staff.
3. Is operating without risk a smart business decision?
Operating without risk organizationally, sounds like a company that might be afraid to change and/or respond to new trends. I don’t think it’s a smart business decision. In fact, I don’t think it’s a safe business decision. Staying “safe” in business could spell death to your business.
4. Given its growth, what are some risks that The Fedcap Group faces? (include reputational, financial, structural etc.)
If a combination did not perform well or if the possibilities forecast in a combination fell through that could place undue financial strain on the company. If a combined company failed to maintain its own sense of reputational integrity, their risks and exposure could have negative reputational impact on all the other Fedcap companies. In area of social media where misinformation runs unchecked a post (misinformed) about the company or an employee could go viral before the content is ever verified.
5. How do we engage staff in understanding and actively managing reputational risk?
I think the manner in which we design programs including being sensitive to and intentionally aware of issues of diversity and inclusion. I also think having staff acutely aware of the company’s social media presence with policies set that offer protocols on posts both personal and professional - on the clock and off.
6. Discuss a specific example of reputational risk that is directly relevant to your program/company?
An outcome identified by the funder as a milestone attainment was participants increasing one grade level by the end of the contract year (June 30). This attainment was measured by pre and post test scores on a standardized test called the Test of Adult Basic Education (TABE). A concern was raised that the test results were artificially inflated to ensure the milestone was met. Had this allegation been proven true (it wasn’t) it would have placed doubt regarding all reported outcomes on this contract. Fedcap’s fidelity in reporting accurate outcomes would be questioned potentially harming Fedcap's sense of integrity and it could have jeopardized participant trust in the programs ability to help them attain their educational goals.
1. Is Risk ever acceptable? If so, how much risk is acceptable?
Some level of risk is acceptable. As a company grows and expands and as they take their cues about the products and services it provides there has to a mindset toward growth and change that keeps the company current and relevant in its market. Absent risk a company may appear to be stagnant, not growing, and lacking innovation.
2. How would you assess your program/company’s overall risk appetite?
On the programmatic side, it appears we operate very conservatively. As a Program Director, I take great care to identify potential risks particularly within the domain of internal operations. The type of normal within the day-to-day business activities that could trigger a risk event could spark easily if a constant check of the pulse of the community isn’t conducted regularly and on several different levels by different staff.
3. Is operating without risk a smart business decision?
Operating without risk organizationally, sounds like a company that might be afraid to change and/or respond to new trends. I don’t think it’s a smart business decision. In fact, I don’t think it’s a safe business decision. Staying “safe” in business could spell death to your business.
4. Given its growth, what are some risks that The Fedcap Group faces? (include reputational, financial, structural etc.)
If a combination did not perform well or if the possibilities forecast in a combination fell through that could place undue financial strain on the company. If a combined company failed to maintain its own sense of reputational integrity, their risks and exposure could have negative reputational impact on all the other Fedcap companies. In area of social media where misinformation runs unchecked a post (misinformed) about the company or an employee could go viral before the content is ever verified.
5. How do we engage staff in understanding and actively managing reputational risk?
I think the manner in which we design programs including being sensitive to and intentionally aware of issues of diversity and inclusion. I also think having staff acutely aware of the company’s social media presence with policies set that offer protocols on posts both personal and professional - on the clock and off.
6. Discuss a specific example of reputational risk that is directly relevant to your program/company?
An outcome identified by the funder as a milestone attainment was participants increasing one grade level by the end of the contract year (June 30). This attainment was measured by pre and post test scores on a standardized test called the Test of Adult Basic Education (TABE). A concern was raised that the test results were artificially inflated to ensure the milestone was met. Had this allegation been proven true (it wasn’t) it would have placed doubt regarding all reported outcomes on this contract. Fedcap’s fidelity in reporting accurate outcomes would be questioned potentially harming Fedcap's sense of integrity and it could have jeopardized participant trust in the programs ability to help them attain their educational goals.
