In the dynamic world of business, change is the only constant. As an organization, we have always embraced transformation as an opportunity to grow and thrive. This commitment to adaptability is at the heart of AEV Risk’s recent undertaking—the Risk Review Workshop. After all, in times of significant change, it’s prudent to revisit our risk programs, including our risk appetite, top risks, and the very approach we employ for risk management.
Setting the Stage
At the heart of this workshop was a thought-provoking activity known as “The Great AEV Debate.” Participants were challenged to take opposing positions on the statement, “AEV will be successful in 10 years.” This seemingly simple exercise forced us to confront the essence of our success and the potential pitfalls that could hinder our journey. In essence, it was like holding a mirror up to our organization, scrutinizing both our strengths and weaknesses.
The “Great AEV Debate” played a pivotal role in achieving the workshop’s objectives. By discussing the good, the bad, and the ugly aspects of our organization’s future, participants were compelled to confront risks head-on. Risks, in this context, were not just perceived as threats or hazards but also as opportunities – the uncertain upside that could propel us forward.
Safeguarding AEV’s Long-Term Growth
The outcomes of this workshop have far-reaching implications for AEV’s long-term strategy and growth. By identifying our risks, we position ourselves to manage the negative impacts effectively and seize opportunities. This workshop marks the initial step in a series of risk-based conversations within AEV, ensuring that risk management remains a dynamic and proactive element of our strategy.
Key Learnings
The Risk Review Workshop yielded invaluable lessons for teams and organizations navigating transformation:
- Diversity Drives Inclusivity: Involving people from various functions within the organization fosters diverse perspectives and opinions. This diversity brings to light risks that may remain hidden in a homogenous group, allowing organizations to address previously overlooked challenges.
- Confronting the Uncomfortable: Embracing a candid approach to risk management, including addressing challenging or uncomfortable topics, is essential. This openness helps organizations tackle risks head-on, mitigating potential negative impacts.
- Risks Are Dynamic: Risks aren’t static; they evolve with the business environment. Regularly revisiting and reassessing risks ensures that an organization remains agile and adaptable in the face of change.
With both eyes and minds firmly focused on the Great Transformation, the Risk Review Workshop conducted by AEV’s Risk Management team demonstrates the Group’s commitment to growth, adaptability, and proactive risk management.
By embracing change, engaging in open conversations, and learning from diverse perspectives, we not only safeguard our organization but also position ourselves to seize opportunities for future success. As we navigate these uncharted waters, we do so with the conviction that embracing change and proactively managing risks will propel us towards a brighter future as we build the Philippines’ first techglomerate.
