Alphas,Management,The,3As,AAAs business, insurance 3 Alphas in Management - The 3As (AAAs)

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-- Overview --3 Alphas in Management is written using very simple yet effective and proven management techniques that I have been using in my almost 30 years in senior management positions in varied industries, including as a Vice President with a large multi-national company (MNC) and as a Group Executive Director of a public listed company (plc).The emphasis of 3 Alphas in Management is on the formation of teams, known as circles, involving every level of personnel in the organization to create a cohesive work force with a sense of purpose within a customer-centric organization.Circles are used to denote a roundtable atmosphere and environment, whereby all the circle participants are equals and are also equally important.No one is left out, and in fact, no one should be left out.After all, all employees are also consumers and are customers and their ideas and input on how an organization can be more customer-centric are valid and as such, should not be discounted or overlooked.3 Alphas in Management starts from AAA (the 3As) to ZZZ (the 3Zs).I believe that the list is non-exhaustive.But instead, I hoped that the 3 Alphas in Management will stimulate your organization to create their own customized 3 Alphas.For example, I have used "Ideas In Improvement" for III (3Is), but also valid would be "Investing In Intrapreuners" or "Innovations In Industry" etc. etc.-- The 3 As (AAA) - Against Any Adversities ---- Overview --It has often been said that the greatest asset of any organization is the people that work for them.Every organization is built on the strength of the people that work for them, the stronger the people are the stronger the organization will be.Unfortunately, many organizations never have the opportunity to test the strength (or weakness) of their people until it is too late, that is, in the face of acute adversity.It is therefore very important and highly critical to the continued success and survival of any organization to groom and train their people to be able to face up to any adversities.Thus, the first of the 3Alphas of Management looks at preparing the organization "Against Any Adversities".No one plans for adversities to happen. So, most of the time they do not plan on how to overcome them.Also, most people feel and believe that mishaps will only happen to the other person and not to him. Similarly, organizations used to believe that misfortunes will only beset and befall others, hopefully their competitors.However, nothing is further from the truth. Mishaps, misfortunes, adversities, calamities, disasters happens everyday and to anyone. It knows no favors and owes no favors.So are you and your organization ready to face any adversity that may beset you ?If the answer is YES, you can skip to the next 3Alphas in Management, but if it is a NO or even a MAYBE, read on.What sort of adversities could beset your organization?The list is non-exhaustive, but let us look at a few and see how well you and your people are ready to face them.- Senior management replacement policyMost organizations have in place a very well planned and executed Succession Planning Program.Do you have one?It is actually quite simple but some organizations find it quite difficult if not impossible.The first question you need to ask is :Amongst your key personnel, who in your organization are currently irreplaceable and indispensable?Is it the owner, the Chairman, the President, a Vice President, who, indeed who?The next question to ask would be :What happens if these individuals are no longer with the organization?Then ask yourself :How can we plan for this eventuality?The question goes on and on, but unfortunately all these questions need answers.Do you promote internally?Is anyone ready to take over?Will the person replacing him have the necessary knowledge, experience, qualification and maturity to take over?Do we hire someone from outside?Will he be willing to come?When can he come?Will we be able to afford him?Will the employees accept someone from outside for such a senior position?There are just so many questions !!That needs answers, answers and more answers !!- Loss of Key AssetsNext, ask yourself :What happens if our production plant were to be destroyed, by fire, floods, explosions?Are we prepared and ready to start production elsewhere the next day?Are there other manufacturers who can manufacture for us?Will we be able to meet current orders and commitments?Will customers leave us for our competitors?Hey, are we even insured?I think the picture is very clear and I do not have to discuss any other adversities that could probably beset your organization.-- The Circles --What is required is for you to set up Risk Management Circles in your organization to prepare your organization "Against All Adversities".The Risk Management Circles (RMCs) that could be set up are- RMC on loss of key personnelThis RMC would identify all key personnel and determine the risk exposure to the organization and ways to minimise or mitigate this risk in the event of loss of these employees.- RMC on loss of key assetsThis RMC would identify all key assets and determine the risk exposure to the organization and ways to minimise or mitigate this risk in the event of loss of these assets, particularly assets used in the production of goods and services for sale.- RMC on loss due to infidelityThis RMC would identify all losses that may be incurred due to infidelity by key management staff and determine the risk exposure to the organization and ways to minimise or mitigate this risk in the event of any act of infidelity.- RMC on loss of dataThis RMC would identify all key information data and determine the risk exposure to the organization and ways to minimise or mitigate this risk in the event of loss of these data, particularly data which are considered critical for the day to day operation of your organization.- RMC on industrial espionage and loss of trade secretsThis RMC would identify all key trade secret data and information and determine the risk exposure to the organization and ways to minimise or mitigate this risk in the event of loss of these secrets, particularly trade secrets that have given your organization the leading edge in your industry.-- Methodology --Circles are used to denote a roundtable atmosphere and environment, whereby all the participants in the Circle are equals and are also equally important.- The Circle would be set up by the Management- The Circle will be made up of personnel from different departments or divisions- The Circle will have a facilitator and not a Chairman, and a Secretary- Minutes, to be taken by the Secretary, will not be taken verbatim, but only the main points and the decisions are recorded. This is to ensure that participants will be willing to express themselves and their ideas and concerns freely without fear- The Circle would then be empowered by the Management to :- Identify the possible risk within their defined area, example on Loss of Key Personnel- Discuss ways to mitigate or minimize these risks- Make a proposal to the Management on the possible steps needed to be taken to overcome or minimize the risks- Design the Reporting Formats to be used to document the risks and the steps taken to mitigate them- Monitor the progress of the organization's implementation of the mitigating steps- Report to Management on any "new" risk that they foresee- Report to Management on any shortcomings in the implementation of the mitigating steps-- I will continue posting articles on 3 Alphas in Management until the 3Zs (ZZZ), but not necessarily in alphabetical order.-- Email me and I will keep you informed when they are ready for publishing. Article Tags: Would Identify, Risk Exposure