Fundamentals of Risk Management

2
Map your path since last 
career planning
Take the time to reflect on your course and 
note why it looks the way it does.
3
Reflect on your likes and 
dislikes, needs and 
wants
Use this list to examine your current job 
and career path.
4
Examine your pastimes 
and hobbies
Decide if you can make a hobby into a 
career because people do it all the time.
5
Make note of your past 
accomplishments
One of these may trigger researching and 
planning a career shift.
6
Look beyond your 
current job for 
transferable skills
Every job requires a certain set of skills 
and it is better to define yourself in terms 
of skill sets.
7
Review career and job 
trends
Having information about career trends is 
vital to long-term career planning success.
8
Set career and job goals
Develop a roadmap for your job and career 
success through goal setting.
9
Explore new education 
and training opportunities
What types of educational experiences 
will help you achieve your career goals.
10
Research further career/
job advancement 
opportunities
Picture yourself in the future and develop 
multiple scenarios of that future.
Career planning can have multiple benefits, from goal setting to career change, to a more 
successful life. Here are 10 steps to success:
Career success

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20
Reputation and
the business model
Components of the business model
All organizations will have a business model that represents how they deliver the 
customer offering. Organizations that are public sector, third sector or would other-
wise consider themselves to be a non-commercial organization will still have a means 
of delivering their vision and/or mission statement. The means of delivering the defined 
customer offering is the business model of the organization. In summary, customers 
receive the offering from the organization because it utilizes the resources that it has 
available. The customer offering is underpinned by the resilience of the organization 
and by arrangements to ensure that the organization remains sustainable.
Figure 20.1 illustrates the components of the business model as customer, 
offering, resources and resilience (CORR). Each of these components is described in 
more detail in Figure 20.1, and they can be summarized as follows:
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Customer includes analysis of customer segments, recruitment and retention, 
as well as how products or services will be delivered.
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Offering refers to the customer value proposition and the related benefits that 
are delivered to those customers.
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Resources include the data, capabilities and assets of the organization, as well 
as partnerships and networks.
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Resilience of the organization is reputational (based on ethos and culture) 
and financial resilience (based on expenditure and revenue).
The importance of the business model is that it represents how the operational
and compliance core processes work together to deliver the customer experience.
It is important for organizations to understand the business model, so that they can
undertake a strengths, weaknesses, opportunities and threats (SWOT) analysis of the 
existing business model. A risk assessment of the existing business model will enable 
the organization to evaluate the efficiency of the existing arrangements and identify