The classic Slim Dusty song rings true for the Australian, optimistic, easy going outlook on life, something that is endearing about our culture.
The problem for many organisations is that a ‘she’ll be right attitude’ is carried over into the management of the business, and in particular the risks that affect the operation of the business, from governance to finance to operations to workplace health and safety.
The recent changes to legislation, including the industrial manslaughter provisions in the WHS Act should bring the requirement to understand and manage business risks and obligations into crystal clear focus.
Managing risk and identifying opportunity has never been more important for businesses.
Regulators are becoming more proactive, employees understand their rights and there is no shortage of no-win no-fee practices around looking for an opportunity to pursue any business owner not doing the right thing.
Add in the fact that industry disruption has also never been as easy as it is today.
The competitor with a new product that will steal a large part of your market share may not even exist today but rest assured if there is profit in the market you are in, others will be thinking of ways to get a slice of the pie.
If you have a nagging feeling that your management practices are a bit ‘she’ll be right’ and are not effectively managing your business risks, it is probably time to do something about it.