Organisational maturity assessment
Acknowledgements
Introduction
What is psychological safety and how does it impact organisations?
The seven principles of psychological safety in managing risk and uncertainty
Blending transparency, accountability and risk strategy
Empowering teams for effective risk management
Leveraging setbacks for informed risk management
Integrating adaptive and agile risk intelligence with psychological safety
Building a foundation of trust and oversight
Cultivating supportive environments
Organisational maturity assessment
Dealing with multicultural environments
Change management
Establishing the roadmap
Adapting the risk function
Conclusion
A personal ask
Appendix
References
A psychologically safe workplace fuels effective risk management by encouraging open dialogue, collaborative problem-solving, and a willingness to challenge the status quo.
As Robert Iger, CEO at Disney once put it: “Nothing is more important than the quality and integrity of an organisation’s people and its product. A company’s success depends on setting high ethical standards for all things, big and small. Another way of saying this: The way you do anything is the way you do everything” (Iger, 2019). With this remark, Iger epitomised the importance of culture to drive business and risk outcomes. At its core, risk management is only as effective as an organisation’s culture allows it to be. Understanding the make-up of its DNA is paramount to establishing the mechanisms enabling success. Looking back at the organisations I have worked for, it is obvious that no two organisations are the same.
To understand how risk management and psychological safety intersect, it is necessary to perform an assessment of the culture of the organisation. I have come across many cultural assessments throughout my career and readings, of diverse levels of complexity and usefulness. I prefer to focus on
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