The Digital Revolution Challenges the Traditional Risk Management Approach - Organizational Portal as a Key to Success

The Digital Revolution Challenges the Traditional Risk Management Approach - Organizational Portal as a Key to Success

In an era of relentless digital disruptions, the pace of change has dramatically accelerated, leaving traditional risk management wisdom far behind. Across a wide range of industries, technology-based companies have changed the rules of the game. Many companies that adopted an overly conservative approach or are currently progressing slowly in their transformation processes have significantly increased their risk of losing relevance – and even paved their way to extinction.

Research company McKinsey found that over 80% of executives cite innovation as one of the three main goals of their organization, yet less than 10% say they are satisfied with their company's performance in this area. How can this gap be bridged? An organizational portal may be the answer.

An organizational portal is a digital platform that enables smooth flow of information, communication, and collaboration throughout the organization. It serves as a shared virtual workspace aimed at accelerating decision-making, promoting transparency, and enhancing employee engagement – critical foundations in a rapidly changing business world.

One of the standout examples of successful adoption of an organizational portal is the giant Spanish clothing company Inditex, the owner of Zara. With the help of an advanced organizational portal, Zara managed to significantly shorten delivery times, swiftly respond to changing fashion trends, and adjust its inventory to consumer demands almost in real-time.

An organizational portal can also be a powerful tool for creating a culture of innovation and experimentation. Through the portal, managers can set goals, provide ongoing feedback, and track the progress of new initiatives. It allows managers to "chunk the change" – meaning, to break down complex projects into manageable segments, allowing for reassessment and adjustments at every stage.

An effective organizational portal must be driven by a clear and value-oriented innovation strategy. This requires a significant mindset shift in the approach to risk. As noted in the article, many organizations still hesitate about far-reaching changes, despite the understanding that protecting the status quo is often the most dangerous strategy.

An organizational portal can play a key role in addressing the "new dilemma of the innovator." By leveraging the portal for knowledge sharing, cross-organization collaboration, and gathering new ideas, companies can overcome fears, identify new opportunities, and drive breakthrough innovation.

There is no doubt that the organizational portal is not a magic solution. It requires adaptation to the unique needs of each organization, effective change management, and gradual implementation. But in an era of accelerated competition and relentless disruptions, the organizational portal is an essential tool that can help companies break the boundaries of traditional thinking, identify hidden risks, and navigate a path of continuous growth.

In conclusion, in today's changing business landscape, the distinction between security and risk is increasingly blurred. In an age where changes are the norm, sticking to outdated approaches to risk management can be dangerous. An organizational portal, combined with bold and innovative leadership, is a central component of a winning strategy to tackle future challenges.