Strategies to Improve Risk Culture and Maturity

Organisations only have one culture for achieving organisational success and excellence. There will be separate outcomes generated from that single culture. One such business outcome arising from the organisational culture is ‘risk culture’.

Attempting to specifically create different organisational cultures for different business outcomes would only lead to confusion and misalignment. There will be various initiatives competing for people’s attention. This will lead to a lack of focus and alignment on the core of how to build a strong, resilient culture that will help the organisation grow and achieve all of its goals.

Focus on building only one organisational culture with many business outcomes – that includes risk, improvement, innovation, and so forth. These business outcomes will flow naturally from that one organisational culture.

Organisational culture is not a subset of ‘risk culture’. Nor ‘risk culture’ is a subset of organisational culture. Rather, ‘risk culture’ is an outcome of organisational culture.

More precisely, the organisation’s level of risk maturity is an outcome of organisational culture.

The kind of culture an organisation has will influence how they approach and practise risk management as well as how effective their risk strategies are.