Article 5 of 7-part thought leadership series: Enabling ‘Good’ Innovative Problem Solving for Organisational Sustainability and Success

In today’s fast-evolving business environment, managing risk isn’t just about preventing crises—it’s about building a resilient and forward-thinking organisational culture. This article explores how Robert S. Hartman’s Three Dimensions of Value—Intrinsic, Extrinsic, and Systemic—can be applied alongside the Four Stages of Innovative Problem Solving to improve risk management strategies.

Using Hartman’s Dimensions to Enhance Risk Management

1. Intrinsic Dimension: Focusing on Ethics in Risk Management

Ethical Risk Assessment: Develop a system to assess how risks could affect employees, customers, and the wider society, paying special attention to the ethical implications.

Promoting Ethical Awareness: Foster open discussions on ethical dilemmas and train staff to identify and address the ethical dimensions of risks.

Empathy in Decision-Making: Choose solutions that reflect your organisation’s values, boosting trust and loyalty among stakeholders.

2. Extrinsic Dimension: Aiming for Measurable Outcomes

Setting Clear Goals: Define specific, measurable objectives for risk management, such as lowering the number of incidents or improving response speed.

Data-Driven Decisions: Use analytics to evaluate risk levels and the success of your mitigation efforts.

Ongoing Refinement: Continuously review and refine risk management practices based on results and feedback.

3. Systemic Dimension: Streamlining Processes

Standardized Risk Protocols: Establish and follow consistent organisational procedures for risk identification, assessment, and mitigation.

Routine Audits: Regularly check that risk management actions comply with both internal guidelines and external regulations.

Scenario Planning: Conduct frequent scenario planning to anticipate and prepare for potential risks.

Incorporating the Four Stages of Innovative Problem Solving in Risk Management

1. Problem Definition:

Recognise and clearly define risks, considering their ethical, practical, and systemic aspects..

2. Solution Finding:

Create risk mitigation strategies that are ethically responsible, offer tangible benefits, and conform to organisational standards.

3. Implementation:

Execute risk mitigation plans with a focus on ethical considerations, effectiveness, and adherence to established processes.

4. Teamwork:

Encourage a collaborative approach to risk management that values diverse perspectives, aims to meet organisational objectives, and operates within a structured framework.

Conclusion: A Comprehensive Strategy for Risk Mitigation

Integrating Hartman’s Dimensions with the stages of innovative problem-solving enables organisations to take a well-rounded approach to risk management. This strategy not only strengthens an organisation’s defence against potential risks but also ensures operations are ethically responsible and aligned with core values. In our upcoming articles, we’ll explore the ‘9 Pathways to a ‘Good’ Organisational Culture’, delving deeper into how these principles can be ingrained for ongoing success and innovative problem-solving.

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